Assets of a company can be in various forms. We might have buildings, vehicles, copywrites, patents, timber, and coal to name a few. Thinking about these assets, answer the following questions:

What are the different categories of assets? Please identify and define each type of asset $($Hint: There are $2$ main categories of assets$).$

Within each category, identify $3$ examples of each.

For each category, do you depreciate, amortize or deplete?

Explain the difference between straight$-$line and double$-$declining balance depreciation?