Which of the following transactions is consistent with recognizing value changes on the balance sheet and income statement when they are realized in a market transaction?

a. Selling land at a cost greater than its original purchase price.
b. Recording an increase in the fair value of investments at year end.
c. Translating foreign operations accounted for in Yen back to U.S. dollars in order to prepare consolidated financial statements.
d. Writing down the value of an asset due to obsolescent.

A