Definition of Sundry income:
Income from a source that cannon be accurately predicted, or income from revenue streams outside of a firms primary line of business. Sales of a firms assets, royalty income, and capital gains from a firms investments could all be considered sundry income.
Sundry income is generated from sources other than a company's normal income-generating business operations. This includes any income not generated by the sale of the company's products and services.
Sundry income is likely to be less predictable in nature than revenue from a business's primary operations because the associated activities are often irregular in nature and cannot be seen as guaranteed sources of income over the long term.
How to use Sundry income in a sentence?
- Examples of sundry income include royalties, foreign exchange gains, profits on the sales of minor assets, and late fees.
- Sundry income, also called miscellaneous income or other operating income, is generated from sources other than a company's normal business operation.
- Because sundry income affects a company’s net worth, it must be recorded on financial statements and to the Internal Revenue Service (IRS).
- Sundry income is often irregular and not a guaranteed source of company income over the long term.
Meaning of Sundry income & Sundry income Definition