what is royalty account explain in detail
Answer (1)
6th Dec, 2019
Hello there. Hope you are doing good. In terms of accounting, royalty is what a lessee pays to a lesser for the use of any rights, copyrights, franchises or any such asset. It is the system of sharing of revenues between the lessee and the lessor.
I hope you found this answer helpful. Good luck for your future!
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