A file is considered "read-only" if reading the file is allowed but writing to the file is not permitted.
What if the file has the following permissions (r and x)
root r-x file_name.xls
Is this file considered read only or not? Given that it has permissions to be executed
Is this file considered read only or not? Given that it has permissions to be executed
Yes, it is to be considered read only. Executing a file doesn't require write permission, only read permission, so there's no conflict in that combination of settings.