answer according to mark allocation

Chapter 7 - The Fair Value Option - Mismatch Should firms be required to fair-value their long-term debt even in the event of a mismatch? Outline arguments for and against this suggestion. Include arguments based on eliminating or reducing mismatch, as well as arguments based on wealth transfers deriving from the entity and the proprietorship views of financial reporting Arguments against fair valuing long-term debt ( 4.5 marks) Arguments in favour of fair valuing long-term debt: (4.5 marks) Conclusion (1 mark)