s 1 Your client, Cascade Company, is planning to invest some of its excess cash in 5-year revenue bonds issued by the county and in the stock of one of its suppliers, Teton Co. Teton's shares trade on the over-the-counter market. Cascade would like you to conduct some research on the accounting for these investments. 1. Since the Teton shares do not trade on one of the large stock markets, Cascade argues that the fair value of the investment is not readily available. According to the authoritative literature, when is the fair value of a security "readily determinable"? To avoid volatility in their financial statement due to fair value adjustments, Cascade debated whether the bond investment could be classified as held-to-maturity. What disclosures must be made for any sale or transfer from securities classified as held-to- maturity