Which of the following is NOT a step in impairment testing? Select one: a. Sell the asset after if the fair value is greater than the recoverable amount O b. Calculate the asset's carrying amount in the books of the entity c. Calculate the recoverable amount of the asset O d. Assess whether there are circumstances that may indicate that the asset should be impaired. Which of the following options is correct? Select one: O a. Preference shareholders are the last to be satisfied among all the stakeholders of the business entity. O b. Long-term liabilities are part of the owners' equity O c. An entity can always redeem its shares when it has the excess resources to do that O d. Equity represent the net assets of the entity