Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 187 · 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) tutoring fees received (b) bus fare to the market (c) paying the stall fee (d) printing posters
2. 2.Ananya’s income was ₹400 and the profit was ₹310. One expense was ₹40 (card paper). How much was the other expense, for stall fee (in ₹)?
3. 3.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
4. 4.Riya’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹210 (sugar)
   Expense: ₹50 (ribbon)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: buying lemons? (a) income (b) expense
6. 6.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) paying the stall fee (d) a card order paid
7. 7.True or false: “paying the stall fee” is income (money in). (a) False (b) True
8. 8.Zoya’s income was ₹140 and the profit was ₹100. One expense was ₹30 (transport). How much was the other expense, for card paper (in ₹)?
9. 9.Farhan’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹140 (paper cups)
   Expense: ₹20 (card paper)
   What is the profit (in ₹)?
10. 10.Saanvi’s income was ₹170 and the profit was ₹140. One expense was ₹20 (paper cups). How much was the other expense, for card paper (in ₹)?
11. 11.Vihaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) buying lemons
13. 13.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying lemons (d) tutoring fees received
14. 14.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) bus fare to the market (d) a card order paid
15. 15.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
16. 16.Joseph’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
17. 17.📒 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
18. 18.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) payment for a cake order (d) paying the stall fee
19. 19.📒 Income or expense: cash from selling plants? (a) income (b) expense
20. 20.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
21. 21.📒 Income or expense: bus fare to the market? (a) income (b) expense
22. 22.Nisha’s income was ₹190 and the profit was ₹70. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying lemons (d) buying paper cups
24. 24.Zoya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
25. 25.True or false: “buying lemons” is income (money in). (a) True (b) False
26. 26.True or false: “money from sales” is an expense (money out). (a) False (b) True
27. 27.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
28. 28.Vihaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
29. 29.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
30. 30.Arjun’s stall took in ₹240 on Friday, ₹130 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
31. 31.Zoya’s income was ₹110 and the profit was ₹90. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
32. 32.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) payment for a cake order (d) a card order paid
33. 33.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) printing posters
34. 34.True or false: “printing posters” is income (money in). (a) True (b) False
35. 35.Joseph’s income was ₹130 and the profit was ₹40. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
36. 36.📒 Income or expense: money from sales? (a) income (b) expense
37. 37.Dev’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: payment for a cake order? (a) expense (b) income
39. 39.📒 Income or expense: paying the stall fee? (a) expense (b) income
40. 40.True or false: “printing posters” is an expense (money out). (a) True (b) False

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