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Royalty Account Interview Questions

Below we have listed all the Royalty Account Interview Questions and answers. Feel free to comment on any Royalty Account Interview Questions or answer by the comment feature available on the page.

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Some businesses entities have financial relationships in which one shares the revenues earned through use of an asset owned by the other. Essentially, it is a lessee/lessor relationship, though the terms licensee and licensor are more common. These usage-based payments are called royalties, and they typically consist of a percentage of the revenues brought in by the asset. The accounting details of a royalty agreement, as presented in the contract, dictate how royalties are calculated.

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Question
Rating
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What is short working?
0.6 Rating
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Give the journal entry in the books of lessor when royalty is less than the minimum rent for short working recouped and royalty received.
0.5 Rating
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What does it to mean to get a royalty check?
0.4 Rating
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Explain the process of recoupment of short working?
0.4 Rating
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Give the journal entry in the books of lessor when royalty is less than the minimum rent for the actual royalties.
0.4 Rating
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Who is a tenant?
0.3 Rating
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What is franchise?
0.4 Rating
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Give the journal entry in the books of lessor when royalty is less than the minimum rent with maintaining minimum rent account for minimum rent receivable.
0.3 Rating
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Give the journal entry in the books of lessee when the royalty is less than minimum rent for minimum rent payable.
0.3 Rating
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How is surplus different from short working?
0.4 Rating
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What is royalty in economics?
0.4 Rating
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How is strike different form lockout?
0.3 Rating
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What is a lease?
0.4 Rating
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What is minimum rent?
0.4 Rating
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State one similarity between strike and lockout?
0.3 Rating
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What is ground rent?
0.3 Rating
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Who is a landlord?
0.3 Rating
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Give the journal entry in the books of lessee when the royalty is equal to the minimum rent for royalities transferred.
0.3 Rating
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Give the journal entry in the books of lessor when royalty is equal to the minimum rent for transferring royalities.
0.3 Rating
View Answer
Give the journal entry in the books of lessee when the royalty is more than minimum rent for transferring royalities and unrecouped short working.
0.4 Rating
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India News Network
Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
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