Long-term assets include tangible assets,natural resources,and intangible assets.Explain the difference between each of these types of assets and explain how each is accounted for on the income statement.

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The Answer of Long-term assets include tangible assets,natural resources,and intangible assets.Explain the difference between each of these types of assets and explain how each is accounted for on the income statement.

Long-Term Assets Include Tangible Assets,natural Resources,and Intangible Assets