Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 114 · 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.📒 Income or expense: paying the stall fee? (a) income (b) expense
2. 2.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
3. 3.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) tutoring fees received (d) a card order paid
4. 4.Meera’s income was ₹340 and the profit was ₹70. One expense was ₹50 (sugar). How much was the other expense, for card paper (in ₹)?
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) paying the stall fee
6. 6.Joseph’s income was ₹300 and the profit was ₹200. One expense was ₹20 (stall fee). How much was the other expense, for sugar (in ₹)?
7. 7.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
8. 8.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) printing posters (d) paying the stall fee
9. 9.Zoya’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹150 (lemons)
   What is the profit (in ₹)?
10. 10.Tara’s income was ₹180 and the profit was ₹40. One expense was ₹20 (lemons). How much was the other expense, for transport (in ₹)?
11. 11.📒 Income or expense: buying lemons? (a) income (b) expense
12. 12.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
13. 13.Nisha’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
14. 14.Vihaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
15. 15.Nisha’s income was ₹230 and the profit was ₹100. One expense was ₹90 (stall fee). How much was the other expense, for lemons (in ₹)?
16. 16.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
17. 17.📒 Income or expense: a card order paid? (a) income (b) expense
18. 18.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) paying the stall fee
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.Rohan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: money from sales? (a) income (b) expense
22. 22.📒 Income or expense: bus fare to the market? (a) expense (b) income
23. 23.Joseph’s income was ₹440 and the profit was ₹160. One expense was ₹230 (card paper). How much was the other expense, for lemons (in ₹)?
24. 24.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
25. 25.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) cash from selling plants (d) payment for a cake order
26. 26.True or false: “printing posters” is income (money in). (a) True (b) False
27. 27.Lakshmi’s income was ₹360 and the profit was ₹100. One expense was ₹250 (ribbon). How much was the other expense, for posters (in ₹)?
28. 28.Zoya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
29. 29.Kavya’s income was ₹150 and the profit was ₹40. One expense was ₹40 (paper cups). How much was the other expense, for stall fee (in ₹)?
30. 30.Tara’s stall took in ₹50 on Friday, ₹170 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “a card order paid” is an expense (money out). (a) True (b) False
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) payment for a cake order (d) tutoring fees received
33. 33.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
34. 34.Dev’s income was ₹460 and the profit was ₹360. One expense was ₹90 (sugar). How much was the other expense, for transport (in ₹)?
35. 35.📒 Income or expense: tutoring fees received? (a) income (b) expense
36. 36.Lakshmi’s income was ₹150 and the profit was ₹40. One expense was ₹50 (sugar). How much was the other expense, for stall fee (in ₹)?
37. 37.Vihaan’s stall took in ₹230 on Friday, ₹110 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
38. 38.Tara’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
40. 40.Nisha’s income was ₹150 and the profit was ₹70. One expense was ₹70 (paper cups). How much was the other expense, for stall fee (in ₹)?

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