Under International Accounting Standards Regarding Depreciation, an Entity

Multiple Choice

Under international accounting standards regarding depreciation, an entity

A) may depreciate separately the components of a composite asset (e.g., land and building)
B) is not allowed to depreciate the components of a composite asset (e.g., land and building) separately.
C) must depreciate separately the components of a composite asset (e.g., land and building) separately.
D) must use fair value accounting for property, plant, and equipment, thus eliminating the need for depreciation.