According to IAS 16 Property, Plant and Equipment, which, if any, of the following statements about depreciation are correct?   The main purpose of depreciation is to reflect the fall in value of an asset over its useful life When an asset is revalued, subsequent depreciation relating to the amount of the revaluation should be debited to the revaluation surplus rather than to the income statement The provision for depreciation ensures that there are funds available to replace an asset when this becomes necessary, though in times of inflation, additional amounts may need to be set aside A change in depreciation method constitutes a change in accounting policy and must be accounted for as such   A         (1) and (4) B          (2) and (3) C         (4) only D         None of the statements is correct

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