Which of the following statements about intangible assets is TRUE?

Franchises can be granted only by private businesses.

The costs capitalized in the Patent account include research and development costs, the purchase price, and legal fees to obtain and defend the patent.

If an intangible asset has an indefinite useful life, it is subject to an annual impairment test which consists in comparing the fair value of the asset and its book value.

Apples slogan Think different is an example of copyright.