what is the meaning of royalty in accounting
Royalty payment A royalty is a payment made by one party, the licensee or franchisee to another that owns a particular asset, the licensor or franchisor for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.[1][2][3][4][5][6][7] A royalty interest is the right to collect a stream of future royalty payments.[8]
East India Company The company received a Royal Charter from Queen Elizabeth I
Base oil The least refined type which produced by Solvent Refining. It usually consists of conventional petroleum base oils.
Aggregate expenditure Aggregate expenditures is defined as : AE = C+Ip+G+NX,