Many companies measure their non-current liabilities at amortized cost or carrying value. However, some companies report at fair value. Which are the following statements are true with respect to this matter. 1) Only amortized cost or carrying value are acceptable under GAAP for reporting long-term liabilities. 2) If the federal government changes the long-term interest rates on government bonds, the fair value of a company's liabilities also change when reporting under the fair value method. 3) The FASB believes that the fair value method of measurement provides more relevant information because it reflects the current cash equivalent value of financial instruments. 1) Only amortized cost or carrying value are acceptable under GAAP for reporting long-term liabilities. 2) If the federal government changes the long-term interest rates on government bonds, the fair value of a company's liabilities also change when reporting under the fair value method. 3) The FASB believes that the fair value method of measurement provides more relevant information because it reflects the current cash equivalent value of financial instruments. 4) Increases and decreases in long-term liabilities under the fair value option result in a debit or credit to an account on the income statement called "Unrealized Holding Gain or Loss