How Are Investments in Debt and Equity Securities Valued in a Private

How are investments in debt and equity securities valued in a private NFP organization's financial statements?

A) Shown at cost; gains and losses appear on the statement of activities when the investment is sold.
B) Shown at market; unrealized gains and losses are reported on the statement of financial position and reclassified to the statement of activities when the investment is sold.
C) Shown at market; unrealized gains and losses are reported on the statement of activities as market value changes.
D) Shown at cost; gains and losses are reported on the statement of financial position as direct adjustments of net assets without donor restrictions when the investment is sold.