Below, I list 3 types of balance sheet assets. Briefly discuss how the asset is valued in the United States (cite the codification section you read for the various rules) and explain whether the standard-setter has focused more on relevance or representational faithfulness in determining the rules for valuation.

a. Property, plant, and equipment b. Held to Maturity Debt Investments c. Assets developed from in-house (internal) research and development

Hint: you need to talk about how the relevance/reliability trade-off will change as the asset ages (over time, some assets go up and some go down in value)