Question

License fee is paid to the government authority for a offering privilege.

• A. True
• B. False

Answer 1

The correct option is A True

The term "licensing fee" can be used to describe an amount of money paid to an entity for a certain right or ability. A licensing fee can be an amount of money paid by an individual or business to a government agency for the privilege of performing a certain service or engaging in a specific line of business. Licensing fees can be paid for trademarks, copyright, or patents, among others.