How are long-term assets commonly shown in financial statements? Long-term assets are categorized as property, plant, and equipment or intangible assets, and methods of depreciation are disclosed in the income statement. O Long-term assets are categorized as property, plant, and equipment or intangible assets, and methods of depreciation are disclosed in the notes to the financial statements. Long-term assets are categorized as property, plant, and equipment or intangible assets, and methods of depreciation must be disclosed on the balance sheet. Long-term assets are categorized as property, plant, and equipment or intangible assets, and methods of depreciation are not important enough to include on the financial statements. O O