4. AASB 6 defines economically recoverable reserves to be: Select one:

a. the quantity of product that can be extracted before the firm makes a loss.

b. the quantity of product that can be extracted, processed and sold at a profit based on past economic conditions.

c. the estimated quantity of the product in the area of interest that can be expected to be profitably extracted and sold under current and foreseeable economic conditions

d. the only source of revenue for firms in the extractive industries.