Match the statement with the term most directly associated with it.

1. _______ The allocation of the cost of a natural resource to expense in a rational and systematic manner.
2. _______ Rights, privileges, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance.
3. _______ An exclusive right granted by the federal government to reproduce and sell an artistic or published work.
4. ________ A right to sell certain products or services or to use certain trademarks or trade names within a designated geographic area.
5. ________ Costs incurred by a company that often lead to patents or new products. These costs must be expensed as incurred.

Transcribed Image Text:

Copyrights Intangible assets Research and development costs Depletion Franchises