Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 219 · 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.True or false: “a card order paid” is income (money in). (a) True (b) False
2. 2.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
3. 3.Saanvi’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹160 (ribbon)
   Expense: ₹130 (transport)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: payment for a cake order? (a) expense (b) income
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.Dev’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹210 (sugar)
   Expense: ₹70 (paper cups)
   How much is the loss (in ₹)?
7. 7.True or false: “tutoring fees received” is income (money in). (a) True (b) False
8. 8.Rohan’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹120 (ribbon)
   Expense: ₹100 (lemons)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) printing posters (d) cash from selling plants
10. 10.Rohan’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) cash from selling plants
12. 12.Ananya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
13. 13.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
14. 14.📒 Income or expense: bus fare to the market? (a) income (b) expense
15. 15.Joseph’s income was ₹220 and the profit was ₹130. One expense was ₹20 (posters). How much was the other expense, for ribbon (in ₹)?
16. 16.Ananya’s stall took in ₹120 on Friday, ₹120 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
17. 17.Saanvi’s stall took in ₹180 on Friday, ₹110 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
18. 18.Diya’s stall took in ₹120 on Friday, ₹380 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
19. 19.Zoya’s income was ₹460 and the profit was ₹60. One expense was ₹240 (stall fee). How much was the other expense, for paper cups (in ₹)?
20. 20.Gurpreet’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹250 (paper cups)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: cash from selling plants? (a) income (b) expense
22. 22.Kabir’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹160 (transport)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: buying lemons? (a) income (b) expense
24. 24.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) buying lemons
25. 25.📒 Income or expense: a card order paid? (a) income (b) expense
26. 26.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
27. 27.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
28. 28.Riya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹60 (posters)
    Expense: ₹310 (transport)
    How much is the loss (in ₹)?
29. 29.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
30. 30.Kabir’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
31. 31.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
32. 32.Arjun’s stall took in ₹120 on Friday, ₹380 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) bus fare to the market
34. 34.Nisha’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
35. 35.Rohan’s stall took in ₹360 on Friday, ₹60 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) bus fare to the market (d) cash from selling plants
37. 37.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
38. 38.Which of these is income (money in)? (a) money from sales (b) printing posters (c) paying the stall fee (d) buying lemons
39. 39.Arjun’s stall took in ₹300 on Friday, ₹130 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying paper cups (d) money from sales

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