Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 14 · 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) payment for a cake order (b) paying the stall fee (c) bus fare to the market (d) buying paper cups
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.Kabir’s income was ₹360 and the profit was ₹270. One expense was ₹30 (card paper). How much was the other expense, for stall fee (in ₹)?
4. 4.📒 Income or expense: tutoring fees received? (a) expense (b) income
5. 5.True or false: “buying lemons” is an expense (money out). (a) False (b) True
6. 6.📒 Income or expense: buying paper cups? (a) expense (b) income
7. 7.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
8. 8.Rohan’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹70 (stall fee)
   Expense: ₹20 (ribbon)
   How much is the loss (in ₹)?
9. 9.📒 Income or expense: a card order paid? (a) income (b) expense
10. 10.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) buying paper cups
11. 11.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) payment for a cake order (d) a card order paid
12. 12.True or false: “a card order paid” is an expense (money out). (a) False (b) True
13. 13.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
14. 14.Vihaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
15. 15.Rohan’s stall took in ₹190 on Friday, ₹150 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
16. 16.Rohan’s income was ₹410 and the profit was ₹280. One expense was ₹40 (posters). How much was the other expense, for stall fee (in ₹)?
17. 17.Zoya’s income was ₹340 and the profit was ₹40. One expense was ₹30 (sugar). How much was the other expense, for stall fee (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
19. 19.Nisha’s stall took in ₹320 on Friday, ₹150 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) cash from selling plants (d) money from sales
21. 21.True or false: “printing posters” is income (money in). (a) False (b) True
22. 22.Tara’s income was ₹490 and the profit was ₹370. One expense was ₹30 (sugar). How much was the other expense, for paper cups (in ₹)?
23. 23.Rohan’s income was ₹110 and the profit was ₹10. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
24. 24.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
25. 25.Farhan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹160 (stall fee)
    How much is the loss (in ₹)?
26. 26.True or false: “cash from selling plants” is income (money in). (a) False (b) True
27. 27.Gurpreet’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
28. 28.Dev’s income was ₹240 and the profit was ₹130. One expense was ₹30 (stall fee). How much was the other expense, for sugar (in ₹)?
29. 29.Gurpreet’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
30. 30.Kabir’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹230 (stall fee)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
31. 31.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
32. 32.Riya’s stall took in ₹280 on Friday, ₹210 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
33. 33.Kabir’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
34. 34.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.Ananya’s income was ₹500 and the profit was ₹20. One expense was ₹360 (paper cups). How much was the other expense, for ribbon (in ₹)?
37. 37.Riya’s income was ₹100 and the profit was ₹30. One expense was ₹50 (lemons). How much was the other expense, for stall fee (in ₹)?
38. 38.Riya’s stall took in ₹390 on Friday, ₹330 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
39. 39.Ishaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
40. 40.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook

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