The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles.

Required:

1. Obtain the relevant authoritative literature on accounting for investments in held-to-maturity securities using the FASB's Codification Research System at the FASB website (www.fash.org).

2. What is the specific citation that describes examples of circumstances under which an investment in debt is available to be sold and therefore should not be classified as held-to-maturity?

3. List the circumstances and conditions.