Fair value accounting is one of the most debatable issues in accounting. Use your book and other sources and in at least 400 words answer the following questions and include your references if you are using sources other than the text book. Give detailed explanations about absorption costing approach, contribution margin approach, fair value costing, and historical costing. Do you prefer absorption approach or contribution approach? Explain your reasons. Are you in favor of fair value or historical cost? Explain your reasons