Question

What do you understand by royalty? Distinguish between royalty and rent?

Answer 1

Explanation:

The term Royalty refers to the payment made for exclusive use for both tangible and intangible assets whereas Rent refers to the payment made towards use of tangible assets only. The payment of Royalty is made on the basis of output or sale, whereas Rent is paid for a specific period.

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Answer 2

Explanation:

The payment of royality is made on the basis of output or sale where's rent is paid for a specific period

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