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Question 34 The fair value accounting adjustment: Not yet answered Marked out of 100 Remove flag Select one: a. Affects both the balance sheet and the current period income statement. O b. Is not made when the current market value of investments in marketable securities is higher than original cost. c. May result in either a gain or a loss to be reported in the current period income statement. d. Represents a departure from the cost principle. Question 35