Do It! Review 10-04 Match the statement with the term most directly associated with it. 1. Rights, privileges, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance. 2. The allocation of the cost of an intangible asset to expense in a rational and systematic manner. 3. A right to sell certain products or services, or use certain trademarks or trade names, within a designated geographic area. 4. Costs incurred by a company that often lead to patents or new products. These costs must be expensed as incurred. 5. The excess of the cost of a company over the fair value of the net assets acquired