Which of the following statements is the most accurate regarding GAAP requirements for reporting the value of balance sheet accounts on a company’s year-end financial statements?

Accounts receivable are to be valued and reported at fair market value; Property, Plant & Equipment are required to be valued and reported at historical cost net of accumulated depreciation

Accounts receivable are required to be valued and reported at net realizable value; Property, Plant & Equipment are required to be valued and reported at historical cost net of accumulated depreciation

It depends on the company’s accounting policies. All statements are options under GAAP

Accounts payable are required to be valued and reported at net present value: Equity is required to be valued and reported at fair market value

Held to maturity investments in bonds are required to be valued and reported at fair market value; Accounts payable are required to be valued and reported at net present value.