4. Nada Al-Balushi, an Accounts Trainee, has made the following TWO statements when she was working at Sohar Power SAOG: 1) IFRSs are mandatory requirements in the Sultanate of Oman 2) IFRSs are providing a freedom on selecting appropriate methods for: Depreciation and Inventory valuation Regarding to the above two statements: (1 Point) Statement 1 is correct and Statement 2 is wrong Both Statement 1 and Statement 2 are wrong Both Statement 1 and Statement 2 are correct Statement 1 is wrong and Statement 2 is correct