1. 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.