Chapter 10, Problem 10.4DIE

To determine

Goodwill: Goodwill refers to an intangible asset which does not have any physical presence but consists of the qualitative attributes that enhances the value of any business organization.

Intangible Assets: Intangible assets refer to those assets owned by the organization which do not have a physical appearance but are used to generate a value for the business.

Research and Development Cost: Research and development cost refers to that cost which is incurred by an organization in the process of developing a new product.

Amortization: Amortization refers to the amount of depreciation expense charged on an intangible asset. Amortization results in the decreased value of an intangible asset.

Franchises: It refers to the contract which provides the right to franchisee under which he can sell specific products and render various services by utilization of trademarks granted by franchisor.

To identity: The terms relevant to the given statements.