Under IFRS, if an assets recoverable amount was $2 million, while its carrying amount was $1 million, then a firm would:(5 Points)

a. Record an impairment loss of $1 million.

b. Revalue the asset to $2 million.

c. Not record any transaction.

d. Record an impairment gain of $1 million.

e. Choose either $2 or $1 million in asset value that provides the best tax advantage