The following paragraph contains an incomplete statement. Select the answer choice containing the phrase that correctly completes the statement.In the United States, under generally accepted accounting principles $($GAAP$)$ and statutory accounting principles $($SAP$),$ insurers typically include derivatives on the balance sheet or disclose them in notes that accompany their financial statements. For financial reporting purposes, $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$ require$($s$)$ insurers to recognize derivatives as either assets or liabilities on the balance sheet and measure them at fair value, regardless of the purpose for holding the derivative.both GAAP and SAPGAAP but not SAPSAP but not GAAPneither GAAP nor SAP