Your client, Cascade Company, is planning to invest some of its excess cash in 5-year revenue bonds issued by the county in which the company headquarters are located and in the stock of one of its suppliers, Teton Company. Tetons shares trade on the over-the-counter market. Cascade plans to account for the bond investment as a held-to-maturity security and the shares in Teton as available-for-sale securities. However, they have asked you to conduct some research to determine whether these classifications are appropriate. Instructions For this assignment, access the FASBs Codification (username: AAA52077; and password: wZhfY7w ) to research the accounting treatment of Cascades investments. You should specifically address the following questions: Since the Teton Company shares do not trade on one of the large stock markets, Cascade argues that the fair value of this investment is not readily available. According to the authoritative literature, when is the fair value of a security readily determinable? Do you agree with Cascades assessment? To avoid volatility in their financial statements due to fair value adjustments, Cascade debated whether the bond investment could be classified as held-to-maturity. Cascade is pretty sure it will hold the bonds for 5 years. How close to maturity could Cascade sell an investment and still classify the bonds as held-to-maturity? How do you recommend Cascade classify the bonds? If Cascade classifies the bonds as held-to-maturity and then sells the bonds prior to maturity, what disclosures must be made