Other Income
Definition:
Other income, also known as non-operating income, is income that is not directly related to the main business activities of a company. It can include a variety of sources, such as interest income, rent income, and gains from the sale of assets.
Example:
Here are some examples of other income:
Interest income: Interest income is income that is earned on investments.
Rent income: Rent income is income that is earned from leasing property.
Gains from the sale of assets: Gains from the sale of assets are income that is earned when an asset is sold for more than its book value.
Gambling winnings: Gambling winnings are income that is earned from gambling.
Royalties: Royalties are income that is earned from the use of intellectual property.