Materials and Source of Income

Things to remember

• Materials refer to all durable and non-durable materials items required by the office to perform all its activities, accurate and systematic manner. There are durable and non-durable materials.
• Durable materials are those materials which help to generate regular incomes for an organization.
• Non- durable materials are those materials which are used for the purpose of manufacturing or selling or operating office and administrative activities.
• The revenue which is earned by selling and distributing goods and services on a regular basis is called sources of income.There are two sources of income regular and other income sources.
• Regular incomes are those incomes which are earned by selling goods and rendering services.
• Other incomes are those incomes which are not earned regularly. These are the incomes other than regular incomes.