Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 122 · 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) bus fare to the market (b) buying paper cups (c) a card order paid (d) printing posters
2. 2.📒 Income or expense: printing posters? (a) income (b) expense
3. 3.📒 Income or expense: payment for a cake order? (a) expense (b) income
4. 4.Tara’s income was ₹320 and the profit was ₹170. One expense was ₹20 (lemons). How much was the other expense, for transport (in ₹)?
5. 5.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) money from sales
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) tutoring fees received
7. 7.Meera’s stall took in ₹80 on Friday, ₹120 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “bus fare to the market” is income (money in). (a) True (b) False
9. 9.True or false: “tutoring fees received” is income (money in). (a) True (b) False
10. 10.True or false: “buying paper cups” is income (money in). (a) True (b) False
11. 11.Dev’s stall took in ₹380 on Friday, ₹340 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
12. 12.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
13. 13.Gurpreet’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
14. 14.Rohan’s stall took in ₹190 on Friday, ₹340 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
16. 16.Kabir’s stall took in ₹320 on Friday, ₹80 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
17. 17.Meera’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (transport)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
18. 18.True or false: “money from sales” is income (money in). (a) False (b) True
19. 19.Kavya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (transport)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
20. 20.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) payment for a cake order
22. 22.Nisha’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
23. 23.Tara’s income was ₹390 and the profit was ₹250. One expense was ₹130 (lemons). How much was the other expense, for card paper (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
25. 25.📒 Income or expense: money from sales? (a) income (b) expense
26. 26.Vihaan’s stall took in ₹270 on Friday, ₹320 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
27. 27.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
28. 28.📒 Income or expense: bus fare to the market? (a) expense (b) income
29. 29.Kabir’s income was ₹290 and the profit was ₹190. One expense was ₹40 (card paper). How much was the other expense, for lemons (in ₹)?
30. 30.Kabir’s stall took in ₹60 on Friday, ₹130 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
31. 31.Dev’s stall took in ₹160 on Friday, ₹380 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: a card order paid? (a) income (b) expense
33. 33.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
34. 34.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
35. 35.Meera’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) False (b) True
37. 37.Diya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹20 (transport)
    Expense: ₹180 (sugar)
    How much is the loss (in ₹)?
38. 38.Saanvi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
39. 39.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) money from sales (d) tutoring fees received
40. 40.Kabir’s income was ₹350 and the profit was ₹260. One expense was ₹50 (posters). How much was the other expense, for stall fee (in ₹)?

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