Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 229 · 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.📒 Income or expense: cash from selling plants? (a) expense (b) income
2. 2.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) bus fare to the market (d) a card order paid
3. 3.📒 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
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) tutoring fees received (d) a card order paid
5. 5.True or false: “payment for a cake order” is income (money in). (a) False (b) True
6. 6.Nisha’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹360 (evening sales)
   Expense: ₹40 (lemons)
   Expense: ₹110 (ribbon)
   What is the profit (in ₹)?
7. 7.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) payment for a cake order (d) buying lemons
8. 8.Nisha’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹150 (transport)
   Expense: ₹40 (stall fee)
   How much is the loss (in ₹)?
9. 9.Zoya’s stall took in ₹150 on Friday, ₹150 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) money from sales (d) a card order paid
11. 11.Tara’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
12. 12.Nisha’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹280 (stall fee)
    How much is the loss (in ₹)?
13. 13.True or false: “a card order paid” is an expense (money out). (a) True (b) False
14. 14.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
15. 15.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) printing posters (d) payment for a cake order
16. 16.Zoya’s stall took in ₹100 on Friday, ₹380 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “printing posters” is income (money in). (a) True (b) False
18. 18.📒 Income or expense: money from sales? (a) expense (b) income
19. 19.Riya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
20. 20.Riya’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “cash from selling plants” is income (money in). (a) True (b) False
22. 22.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
23. 23.True or false: “printing posters” is an expense (money out). (a) True (b) False
24. 24.True or false: “buying lemons” is an expense (money out). (a) False (b) True
25. 25.True or false: “money from sales” is income (money in). (a) True (b) False
26. 26.Joseph’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹150 (transport)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: buying lemons? (a) income (b) expense
28. 28.Aarav’s stall took in ₹300 on Friday, ₹340 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
29. 29.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
30. 30.Arjun’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
31. 31.Zoya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹230 (ribbon)
    How much is the loss (in ₹)?
32. 32.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) a card order paid
33. 33.True or false: “a card order paid” is income (money in). (a) True (b) False
34. 34.Rohan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹300 (paper cups)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
35. 35.Kavya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
36. 36.Kabir’s income was ₹350 and the profit was ₹30. One expense was ₹210 (transport). How much was the other expense, for lemons (in ₹)?
37. 37.Diya’s stall took in ₹80 on Friday, ₹160 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
38. 38.Dev’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
39. 39.Nisha’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
40. 40.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False

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