Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 164 · 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) money from sales (b) buying lemons (c) payment for a cake order (d) cash from selling plants
2. 2.Arjun’s stall took in ₹370 on Friday, ₹130 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
3. 3.True or false: “paying the stall fee” is income (money in). (a) False (b) True
4. 4.Kabir’s stall took in ₹210 on Friday, ₹280 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: tutoring fees received? (a) income (b) expense
6. 6.Riya’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹80 (paper cups)
   Expense: ₹20 (posters)
   What is the profit (in ₹)?
7. 7.Farhan’s income was ₹500 and the profit was ₹310. One expense was ₹110 (stall fee). How much was the other expense, for transport (in ₹)?
8. 8.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) paying the stall fee (d) bus fare to the market
9. 9.Aarav’s income was ₹400 and the profit was ₹230. One expense was ₹60 (ribbon). How much was the other expense, for paper cups (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) income (b) expense
11. 11.True or false: “cash from selling plants” is income (money in). (a) False (b) True
12. 12.Tara’s stall took in ₹300 on Friday, ₹320 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
13. 13.Arjun’s stall took in ₹400 on Friday, ₹150 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
14. 14.Kabir’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
15. 15.True or false: “tutoring fees received” is income (money in). (a) True (b) False
16. 16.📒 Income or expense: cash from selling plants? (a) expense (b) income
17. 17.Rohan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: payment for a cake order? (a) expense (b) income
19. 19.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) paying the stall fee (d) money from sales
20. 20.True or false: “payment for a cake order” is income (money in). (a) False (b) True
21. 21.📒 Income or expense: buying lemons? (a) expense (b) income
22. 22.Riya’s stall took in ₹230 on Friday, ₹210 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
23. 23.Aarav’s stall took in ₹90 on Friday, ₹380 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
25. 25.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
26. 26.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
27. 27.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) tutoring fees received (d) money from sales
28. 28.Nisha’s stall took in ₹230 on Friday, ₹240 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
30. 30.📒 Income or expense: money from sales? (a) expense (b) income
31. 31.📒 Income or expense: buying paper cups? (a) income (b) expense
32. 32.Ishaan’s stall took in ₹120 on Friday, ₹160 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
34. 34.Meera’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
35. 35.Arjun’s income was ₹350 and the profit was ₹150. One expense was ₹150 (card paper). How much was the other expense, for lemons (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
37. 37.Kavya’s stall took in ₹350 on Friday, ₹240 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
38. 38.Dev’s stall took in ₹140 on Friday, ₹280 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
39. 39.Kabir’s stall took in ₹120 on Friday, ₹170 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
40. 40.📒 Income or expense: printing posters? (a) income (b) expense

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