Answer:
Under IFRS, Ice Queen would record three separate assets for the truck, based on the different useful lives of the engine, refrigeration unit, and truck body.
Step-by-step explanation:
Under International Financial Reporting Standards (IFRS), Ice Queen should recognize each component of the truck with a different useful life as a separate asset when accounting for depreciation purposes. Therefore, Ice Queen will record three separate assets: one for the engine with a useful life of 3 years, one for the refrigeration unit with a useful life of 2 years, and one for the truck body with a useful life of 10 years. The separate accounting ensures the depreciation of each component is accurately represented in the entity's financial statements.