1. Match the statement with the term most directly associated with it.
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Copyrights
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Depletion
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Intangible assets
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Franchises
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Research and development costs
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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.