A trainee auditor asks what IAS 36 is for on the balance sheet. Which answer should they be given?Your answerAPresenting each asset at fair value, so that the statement of financial position reflects the market value of the business.BPreventing an asset from being carried at more than the amount recoverable through its use or sale.CSetting the rules for determining the initial cost of acquired property, plant and equipment and intangible assets.DOrganising the systematic allocation of the cost of assets over their useful life through depreciation.Submit