Part 1. Respond in 3-4 sentences There are several types of assets: personal, r

Part 1. Respond in 3-4 sentences There are several types of assets: personal, real, intangible, and natural resources. With this knowledge it is important to understand that there are different cost recovery (depreciation) methods for each.
Choose a type of asset and describe what it is and please provide at least 2-3 examples.
Describe the depreciation method that can be used for that asset explaining if there are any special rules that must be applied.
Part 2. Respond in 2-3 sentences Assets are classified as many things but “Real Assets”  are things such as land, building, machinery whether its a car or a computer. For instance a company rents out a building to another company there for this building generates income and can be classified as an asset. As it provides a steady stream of income. If this building is equipped with machinery then it can also be classified as an asset by it maintaining the production of products with the machinery. 
Depreciation as defined by the IRS as standard depreciation is what allocates the cost of the asset evenly over its time that it is useful. Take into consideration that land alone has no depreciation value but the structures is what has depreciation value such as a home, barn, or even commercial building. 
Part 3. Respond in 3-4 sentences As an investor searching for a new opportunity, select a company and access its online financial reports. Select one of the firm’s financial statements’ (for example, a balance sheet, income statement, or cash flow statement). Then, respond to the following:
Provide a summary of what the financial statement says about the firm’s performance.
Identify any additional information that you think should have been included in the financial statement that you selected that would help to provide a better picture of the firm’s performance.
Part 4. Respond in 2-3 sentences As an investor searching for a new opportunity, I chose to speak about Facebook. Facebook’s balance sheet provides insight into its business by examining key components like advertising revenue, accounts receivable, research and development, global expansion, long-term liabilities, and retained earnings. It shows Facebook’s investment in innovation and technology, its efforts to expand its global infrastructure, and its use of retained earnings to fund user growth and engagement initiatives.
Publicly traded companies typically publish their balance sheets in annual and quarterly reports. Meta’s 2024 financial results showed a 35% increase in revenue and net income from $39.07 billion to $39.07 billion, with a 22% increase from the second quarter and a 73% increase from the second quarter.