Can an application Icon be in a *.png format?

Was wondering if it's possible to use a PNG file as an Applications Icon. I only ask because I tried to assign a new PNG file to the Applications Icon thru the "Application" tab of the Project Properties page and it wouldn't let me. Does the file have to be *.ico?
BlakeMcKennaAsked:
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CodeCruiserCommented:
I think so.

You can use an online coverter though such as http://www.convertico.com/
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Jacques Bourgeois (James Burger)PresidentCommented:
No, you can't, at lease not without using a converter as indicated by CodeCruiser.

If you try to set the icon to a .png file in the project's Properties window, you will get an error telling you that it is not a valid icon file. They also do not support transparency exactly the same way.

Both .png and .ico can contain many icons in different sizes, but they do not do so in the same way. And the computer needs to select the image size depending on where the image will show (taskbar, desktop...).
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