QUESTION 6 Question: Which TWO of the following statements is true in respect to the depreciation of Property plant and equipment in accordance with IFRS? a. Depreciation is a measure of a fall in value of an item of Property plant and equipment. b. Once a depreciation method is selected it cannot be changed. c. Where the market value of an item of property plant and equipment used by an entity has increased, there is no need to depreciate that asset. d. The depreciation method used shall reflect the pattern in which the assets future benefits are expected to be consumed by the entity. e. Each part of an item of property plant and equipment with a cost that is significant in relation to the total cost of the item shall be depreciated separately.