Discuss the arguments for each position.

FASB ASC 320 requires companies to assign their portfolio of investment securities into:Trading securitiesSecurities available for saleHeld-to-maturity securitiesWrite a response of no more than 700 words in which you perform the following:Define each of these categories of securities, and discuss the accounting treatment for each category.Discuss how companies are required to assign each category of securities into its current and noncurrent portions.Discuss the arguments for each position. Some individuals maintain that the only proper accounting treatment for all marketable securities is current value. Others maintain that this treatment might allow companies to “manage earnings.”