Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 132 · 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 an expense (money out)? (a) payment for a cake order (b) money from sales (c) printing posters (d) tutoring fees received
2. 2.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
3. 3.Zoya’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹30 (ribbon)
   Expense: ₹100 (card paper)
   What is the profit (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
5. 5.Riya’s stall took in ₹100 on Friday, ₹300 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “buying lemons” is income (money in). (a) True (b) False
7. 7.True or false: “money from sales” is an expense (money out). (a) False (b) True
8. 8.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
9. 9.📒 Income or expense: money from sales? (a) expense (b) income
10. 10.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
11. 11.Dev’s stall took in ₹320 on Friday, ₹100 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) bus fare to the market (d) buying paper cups
13. 13.Diya’s stall took in ₹180 on Friday, ₹260 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “buying lemons” is an expense (money out). (a) False (b) True
15. 15.Nisha’s stall took in ₹300 on Friday, ₹170 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
16. 16.Aarav’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹220 (card paper)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
17. 17.Gurpreet’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹160 (card paper)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
20. 20.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
21. 21.📒 Income or expense: paying the stall fee? (a) income (b) expense
22. 22.True or false: “tutoring fees received” is income (money in). (a) True (b) False
23. 23.True or false: “buying paper cups” is income (money in). (a) False (b) True
24. 24.Meera’s income was ₹160 and the profit was ₹30. One expense was ₹50 (paper cups). How much was the other expense, for transport (in ₹)?
25. 25.Gurpreet’s stall took in ₹190 on Friday, ₹330 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
27. 27.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) paying the stall fee (d) cash from selling plants
28. 28.Tara’s income was ₹110 and the profit was ₹60. One expense was ₹20 (posters). How much was the other expense, for lemons (in ₹)?
29. 29.Aarav’s stall took in ₹60 on Friday, ₹100 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) money from sales (d) tutoring fees received
31. 31.📒 Income or expense: a card order paid? (a) expense (b) income
32. 32.Ananya’s stall took in ₹340 on Friday, ₹70 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) tutoring fees received
34. 34.Ishaan’s income was ₹230 and the profit was ₹10. One expense was ₹130 (lemons). How much was the other expense, for ribbon (in ₹)?
35. 35.Joseph’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: buying lemons? (a) income (b) expense
37. 37.Farhan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
38. 38.True or false: “printing posters” is income (money in). (a) False (b) True
39. 39.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) printing posters (d) bus fare to the market
40. 40.True or false: “payment for a cake order” is income (money in). (a) False (b) True

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