Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 107 · 40 questions

Business tip (Money in, money out): Income = money coming in; expense = money going out. Keep every bill or receipt. Profit = total income − total expenses. If expenses are more, loss = expenses − income. Update the record the same day, before you forget.

1. 1.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) paying the stall fee (d) buying lemons
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) paying the stall fee (d) payment for a cake order
3. 3.📒 Income or expense: tutoring fees received? (a) expense (b) income
4. 4.True or false: “a card order paid” is income (money in). (a) True (b) False
5. 5.Ananya’s stall took in ₹110 on Friday, ₹130 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
8. 8.📒 Income or expense: money from sales? (a) income (b) expense
9. 9.Meera’s income was ₹390 and the profit was ₹40. One expense was ₹220 (sugar). How much was the other expense, for card paper (in ₹)?
10. 10.True or false: “buying lemons” is income (money in). (a) True (b) False
11. 11.True or false: “money from sales” is income (money in). (a) True (b) False
12. 12.True or false: “printing posters” is an expense (money out). (a) True (b) False
13. 13.Lakshmi’s stall took in ₹90 on Friday, ₹60 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
14. 14.Lakshmi’s stall took in ₹360 on Friday, ₹50 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
15. 15.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
16. 16.Riya’s stall took in ₹230 on Friday, ₹90 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying paper cups (d) tutoring fees received
18. 18.Saanvi’s stall took in ₹130 on Friday, ₹100 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
19. 19.Zoya’s stall took in ₹330 on Friday, ₹360 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
20. 20.Tara’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
21. 21.Gurpreet’s stall took in ₹110 on Friday, ₹140 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: paying the stall fee? (a) income (b) expense
23. 23.Gurpreet’s income was ₹360 and the profit was ₹160. One expense was ₹110 (sugar). How much was the other expense, for posters (in ₹)?
24. 24.Ananya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
25. 25.Vihaan’s income was ₹130 and the profit was ₹70. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
26. 26.True or false: “a card order paid” is an expense (money out). (a) True (b) False
27. 27.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
28. 28.True or false: “paying the stall fee” is income (money in). (a) False (b) True
29. 29.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
30. 30.Rohan’s income was ₹460 and the profit was ₹180. One expense was ₹170 (posters). How much was the other expense, for card paper (in ₹)?
31. 31.Vihaan’s stall took in ₹70 on Friday, ₹260 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: buying lemons? (a) income (b) expense
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Ishaan’s stall took in ₹360 on Friday, ₹360 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “cash from selling plants” is income (money in). (a) False (b) True
36. 36.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
37. 37.Ishaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
38. 38.Rohan’s stall took in ₹280 on Friday, ₹370 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) printing posters (d) buying lemons
40. 40.True or false: “payment for a cake order” is income (money in). (a) False (b) True

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