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 required.