How does component depreciation under IFRS differ from the depreciation methods typically used under GAAP?

• A. Component depreciation requires all parts of an asset to be depreciated at the same rate.
• B. Component depreciation is not allowed under IFRS.
• C. Component depreciation allows different parts of an asset to be depreciated separately based on their useful lives.
• D. Component depreciation is only applicable to intangible assets.

Answer: (C)