Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 243 · 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) tutoring fees received (b) money from sales (c) buying paper cups (d) a card order paid
2. 2.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
3. 3.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
6. 6.Ishaan’s stall took in ₹200 on Friday, ₹290 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) money from sales (d) cash from selling plants
8. 8.True or false: “buying lemons” is income (money in). (a) False (b) True
9. 9.Saanvi’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹70 (paper cups)
   Expense: ₹120 (card paper)
   What is the profit (in ₹)?
10. 10.Nisha’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: buying lemons? (a) income (b) expense
12. 12.True or false: “a card order paid” is income (money in). (a) True (b) False
13. 13.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
14. 14.Ananya’s income was ₹100 and the profit was ₹50. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
15. 15.📒 Income or expense: printing posters? (a) expense (b) income
16. 16.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) cash from selling plants
17. 17.📒 Income or expense: a card order paid? (a) expense (b) income
18. 18.Saanvi’s income was ₹390 and the profit was ₹270. One expense was ₹60 (lemons). How much was the other expense, for posters (in ₹)?
19. 19.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
20. 20.True or false: “bus fare to the market” is income (money in). (a) False (b) True
21. 21.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) a card order paid (d) bus fare to the market
22. 22.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) tutoring fees received (d) printing posters
23. 23.Diya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
24. 24.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) payment for a cake order (d) tutoring fees received
26. 26.Tara’s stall took in ₹350 on Friday, ₹340 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
27. 27.Nisha’s stall took in ₹340 on Friday, ₹230 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
29. 29.Zoya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
30. 30.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) printing posters (d) cash from selling plants
31. 31.Rohan’s income was ₹420 and the profit was ₹40. One expense was ₹170 (transport). How much was the other expense, for sugar (in ₹)?
32. 32.Joseph’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) a card order paid (d) tutoring fees received
34. 34.Nisha’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: tutoring fees received? (a) expense (b) income
36. 36.True or false: “money from sales” is income (money in). (a) True (b) False
37. 37.Arjun’s stall took in ₹280 on Friday, ₹340 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) payment for a cake order
39. 39.Joseph’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False

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