Final answer:
Under U.S. GAAP, all the listed methods of measurement: Current cost, Fair value, and Historical cost are allowed. These methods are used for financial reporting and may vary depending on the asset and transaction.
Step-by-step explanation:
The methods of measurement allowed under U.S. GAAP are all of the following: Current cost, Fair value, and Historical cost.
U.S. GAAP (Generally Accepted Accounting Principles) allows for different valuation methods in financial reporting. Historical cost accounting is the original cost of an asset, unaffected by market value changes. Current cost refers to the cost that would be incurred to replace an asset at the present time. Fair value is a market-based measurement and is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Companies may use different methods for different types of assets and financial transactions, depending on the nature of the asset and the relevance of the information to financial statement users.