1. What is the Non-Current Asset Section of the Balance Sheet trying to communicate? What does their valuation represent?

2. What does the account Property, Plant, and Equipment represent? What is the business transaction that increases this account? What is (are) the business transaction(s) that decreases this asset?

3. Explain the designation Intangible Assets? When you see their valuation on the balance sheet, what is being communicated to you?

4. Are long-term Assets valued at their market value? If so, why? If not, why?

5. Explain the concept of depreciation?