Which of the following is correct about the current FASB standard on accounting for investments in securities?
1) All debt investments will be measured at fair value with the changes in fair value recognized in net income.
2) All equity investments other than those accounted for under the equity method or consolidation will be measured at fair value with the changes in fair value recognized in net income.
3) All equity investments other than those accounted for under the equity method or consolidation will be measured at fair value with the changes in fair value recognized in other comprehensive income.
4) All equity and debt investments will be measured at fair value with the changes in fair value recognized in net income.