Question: Under a royalty agreement with another company, Wand Co. will pay royalties for the assignment of a patent for three years. The royalties paid should

Under a royalty agreement with another company, Wand Co. will pay royalties for the assignment of a patent for three years. The royalties paid should be reported as expense

a. In the period paid.

b. In the period incurred.

c. At the date the royalty agreement began.

d. At the date the royalty agreement expired.

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