Write a response to the following question (do not use the question in your response):
Define and explain each of the following valuation methods used in financial statements:
(1) Historical cost;
(2) Lower-of-cost-or-market;
(3) Depreciated book value;
(4) Amortized book value;
(5) Present value;
(6) Future cost; and
(7) Actuarially estimated present value.
For each of the seven methods, give an example of an asset or a liability that uses that method.