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Which of the following can be applied to accounting for an ownership change?
a) This is a difficult process when a single asset is purchased.
b) The fair market value price of the asset becomes the basis for valuing the asset and possible corresponding liability.
c) The cost to acquire the asset is the valuation basis for the assets.
d) The fair market value to acquire the asset is the valuation basis for the assets.
e) The basic accounting function in any asset exchange transaction is recording the cost for the old owners.

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