The FASB’s Conceptual Framework describes certain desirable attributes of accounting data. These include: predictive value; representational faithfulness; neutrality; and comparability. They also note that information must be produced at reasonable cost. Using these concepts, discuss whether the FASB’s decisions on values seem reasonable:

A. Marketable securities must be recorded at fair value B. Inventory is recorded at lower of cost or market C. Factory equipment is measured at depreciated cost D. Internally developed intangible assets are not recognized E. Land is recorded at historical cost