1 Where are long-term assets listed on the balance sheet? 2 In additon to the purchase price, what other expendiutres need to be included in the cost of a long-term asset when it is purchased? 3 What is the difference between repairs and maintenance and capital expenditures? 2 3 24 25 4 What accounts are affected when recording depreciation? 26 27 28 29 30 5 What is the decline in value of intangible assets called? Question 1 Question 2 Question 3 C D