Question 3 |
Match the statement with the term most directly associated with it.
|
Goodwill |
Amortization |
Intangible assets |
Franchise |
|
Research and development costs |
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 market value of the net assets acquired. |
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