Both IFRS and U.S, GAAP permit valuation of long-term debt and other ligbilities at A) present value discounted at the firm's cost of capital. B) current market values of the obligations, based on changes in the discount rate with unrealized gains and losses reflected in a separate account in stockholders' equity C) fair val D) histori ue with gains and losses on changes in fair value recorded in income in certain situations. c costs without reflecting changes in valuation as obligations will be retired at their maturity date.
