Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 244 · 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) a card order paid (b) buying lemons (c) money from sales (d) tutoring fees received
2. 2.Kabir’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹110 (card paper)
   Expense: ₹190 (paper cups)
   What is the profit (in ₹)?
3. 3.True or false: “a card order paid” is an expense (money out). (a) False (b) True
4. 4.Meera’s stall took in ₹200 on Friday, ₹120 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
6. 6.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying paper cups (d) paying the stall fee
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) bus fare to the market
8. 8.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
9. 9.True or false: “paying the stall fee” is income (money in). (a) True (b) False
10. 10.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
11. 11.Ananya’s stall took in ₹220 on Friday, ₹350 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
12. 12.Meera’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹210 (card paper)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
13. 13.Dev’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: paying the stall fee? (a) expense (b) income
15. 15.Ananya’s stall took in ₹70 on Friday, ₹90 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
16. 16.Ananya’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
17. 17.Diya’s income was ₹260 and the profit was ₹10. One expense was ₹200 (paper cups). How much was the other expense, for lemons (in ₹)?
18. 18.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
19. 19.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
20. 20.Dev’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
21. 21.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
22. 22.True or false: “bus fare to the market” is income (money in). (a) False (b) True
23. 23.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
24. 24.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying lemons (d) paying the stall fee
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.Nisha’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹540 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
27. 27.Dev’s stall took in ₹340 on Friday, ₹50 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
28. 28.Ishaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: printing posters? (a) expense (b) income
30. 30.True or false: “money from sales” is income (money in). (a) True (b) False
31. 31.📒 Income or expense: bus fare to the market? (a) income (b) expense
32. 32.True or false: “payment for a cake order” is income (money in). (a) True (b) False
33. 33.Farhan’s stall took in ₹80 on Friday, ₹110 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
34. 34.📒 Income or expense: payment for a cake order? (a) expense (b) income
35. 35.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) a card order paid
36. 36.Rohan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
37. 37.True or false: “buying lemons” is income (money in). (a) False (b) True
38. 38.Diya’s stall took in ₹250 on Friday, ₹250 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) payment for a cake order
40. 40.Tara’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?

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