Question

when royalty is paid,it is debited in tha books of lessee to
a.royaly a/c
b.profit or loss a/c
c.londlord a/c
d.production a/c​

Answer 1

Answer:

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Explanation:

Payment made by the lessee on account of a royalty is normal business expenditure and will be debited to the Royalty account. It is a nominal account and at the end of the accounting year, balance of Royalty account need to be transferred to the normal Trading and Profit & Loss account.