Asked by Dahmineek Taylor on May 07, 2024
Verified
Royalties can be earned from allowing others the right to use or exploit:
A) Copyrights
B) Formulas
C) Coal mines
D) All of these
Royalties
Payments made to the owners of intellectual property, minerals, or other assets for the right to use or sell their property.
Copyrights
Legal rights granted by the government to creators for the protection of their original works for a certain period.
Coal Mines
Locations where coal is extracted from the earth, often involving extensive mining operations.
- Identify sources of royalty income and the appropriate way to report it.
Verified Answer
AH
Animesh HimaniMay 12, 2024
Final Answer :
D
Explanation :
Royalties can be earned from a variety of sources, including copyrights (for creative works), formulas (for inventions or proprietary processes), and natural resources like coal mines. These are all assets that can generate income for their owners when used or exploited by others.
Learning Objectives
- Identify sources of royalty income and the appropriate way to report it.