The only long-term asset that cannot be separated from the business and sold is land. buildings goodwill. trademarks Assets acquired in a basket purchase are to be allocated a portion of the total price based on their respective fair market values. book values. present values. assessed values According to accounting standards, the method of depreciation chosen should measure the change in an asset's value. be systematic and rational allocate the most of the asset's cost to the early periods benefiting from its use. recognize the reduced usefulness of an asset. Assets that produce their greatest benefits to a firm early in their useful life should be depreciated using the straight-line method declining-balance method compound interest method, units-of-activity method