Under U.S. GAAP, the disclosure requirements when fair value measurement is used are differentiated by which of the following classifications?
a. Between assets measured at fair value and liabilities measured at fair value
b. Between fair value measurements that result in gains and fair value measurements that result in losses
c. Between items measured at fair value on a recurring basis and items measured at fair value on a nonrecurring basis
d. Between items for which fair value measurement is required and items for which fair value measurement is elected