The book talks extensively about relevance vs. reliability.In your Accounting Theory course, you learned about how to account for various assets.Below, I list 3 types of balance sheet assets.For each of these, briefly discuss how the asset is valued and explain whether the standard setter has focused more on relevance or reliability in determining the rules for valuation.

a..Property, plant, and equipment

b.Available for sale securities

c.Assets developed from in house (internal) research and development