True or false:

a) When a company exchanges nonmonetary assets and a gain results, the company always defer recognition of the gain.

b) The three factors involved in the depreciation process are the depreciation base, the useful life, and the fair value of the underlying asset.

c) If a firm decreases its estimate of salvage value for a machine (with other things unchanged), the annual depreciation will increase under the straight-line method.

d) When a firm records an impairment loss for a machine, its net income is not affected, and its total asset decreases.