Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 141 · 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.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
2. 2.Aarav’s stall took in ₹260 on Friday, ₹360 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) printing posters (d) payment for a cake order
4. 4.Ananya’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹10 (posters)
   Expense: ₹250 (sugar)
   How much is the loss (in ₹)?
5. 5.True or false: “a card order paid” is income (money in). (a) False (b) True
6. 6.📒 Income or expense: payment for a cake order? (a) expense (b) income
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying paper cups (d) a card order paid
8. 8.📒 Income or expense: money from sales? (a) income (b) expense
9. 9.Saanvi’s record for the day:
   Income: ₹330 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹180 (lemons)
   Expense: ₹130 (posters)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) expense (b) income
11. 11.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
12. 12.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
13. 13.True or false: “paying the stall fee” is income (money in). (a) True (b) False
14. 14.True or false: “buying paper cups” is income (money in). (a) True (b) False
15. 15.Diya’s income was ₹400 and the profit was ₹60. One expense was ₹280 (lemons). How much was the other expense, for ribbon (in ₹)?
16. 16.Meera’s income was ₹500 and the profit was ₹160. One expense was ₹80 (lemons). How much was the other expense, for posters (in ₹)?
17. 17.Meera’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: buying paper cups? (a) expense (b) income
19. 19.📒 Income or expense: cash from selling plants? (a) expense (b) income
20. 20.Dev’s stall took in ₹380 on Friday, ₹60 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
21. 21.Ananya’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
22. 22.True or false: “a card order paid” is an expense (money out). (a) True (b) False
23. 23.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) bus fare to the market (d) printing posters
24. 24.True or false: “tutoring fees received” is income (money in). (a) True (b) False
25. 25.Diya’s stall took in ₹310 on Friday, ₹330 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) money from sales (d) buying paper cups
27. 27.True or false: “payment for a cake order” is income (money in). (a) False (b) True
28. 28.Dev’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹110 (transport)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.📒 Income or expense: printing posters? (a) income (b) expense
31. 31.Riya’s stall took in ₹260 on Friday, ₹180 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
32. 32.Kabir’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
33. 33.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) a card order paid (d) money from sales
34. 34.Kavya’s stall took in ₹160 on Friday, ₹140 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
35. 35.Rohan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
36. 36.Zoya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
37. 37.Ishaan’s stall took in ₹90 on Friday, ₹330 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: a card order paid? (a) expense (b) income
39. 39.Kabir’s income was ₹160 and the profit was ₹30. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
40. 40.True or false: “buying paper cups” is an expense (money out). (a) True (b) False

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