There are a number of accounting methods that can be used for asset and liability valuation. In some cases, fair value is appropriate; in others, historical cost is required. Please discuss the different methods as they apply to investments, current liabilities, and contingencies. Conclude your discussion with which valuation method you find the most appropriate for each of them. You may use either GAAP and/or IFRS for your discussion. Your answer should be at least 300 words.