Question

royalty account is ...........​

Answer 1

In terms of accounting, royalty is what a lessee pays to a lessor 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. Let us learn more about the special accounting treatments in royalty accounts.

Answer 2

Answer:

royalty is payable by a user to the owner of the property or something on which an owner has some special rights. ...

payable made by the lessee on account of a royalty is normal business expenditure and will be debited to the royalty account.

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