A payment is made in return for some transference of privilege. What this payment is called ?
Correct answer: A. Royalty
- A. Royalty
- B. Rent
- C. Share
- D. Intellectual royalty
Explanation
A royalty is a payment made for the right to use or exploit a privilege, such as a patent, copyright, mineral deposit, or franchise. Rent normally refers to payment for the use of property or land.
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