Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 273 · 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) buying paper cups (b) payment for a cake order (c) printing posters (d) paying the stall fee
2. 2.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) buying lemons
3. 3.📒 Income or expense: payment for a cake order? (a) expense (b) income
4. 4.Rohan’s stall took in ₹230 on Friday, ₹280 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
7. 7.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
8. 8.📒 Income or expense: buying paper cups? (a) expense (b) income
9. 9.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) buying paper cups
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
11. 11.Ishaan’s stall took in ₹160 on Friday, ₹380 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
12. 12.Joseph’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
13. 13.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) tutoring fees received
14. 14.Meera’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
15. 15.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
16. 16.True or false: “payment for a cake order” is income (money in). (a) False (b) True
17. 17.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) cash from selling plants
18. 18.True or false: “cash from selling plants” is income (money in). (a) True (b) False
19. 19.True or false: “a card order paid” is an expense (money out). (a) False (b) True
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
21. 21.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) paying the stall fee (d) bus fare to the market
22. 22.📒 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
23. 23.Ishaan’s income was ₹490 and the profit was ₹350. One expense was ₹20 (posters). How much was the other expense, for sugar (in ₹)?
24. 24.📒 Income or expense: bus fare to the market? (a) income (b) expense
25. 25.Vihaan’s stall took in ₹100 on Friday, ₹300 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
26. 26.Arjun’s stall took in ₹140 on Friday, ₹170 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
27. 27.Riya’s stall took in ₹50 on Friday, ₹110 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) money from sales
29. 29.Joseph’s stall took in ₹130 on Friday, ₹190 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
30. 30.Aarav’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
31. 31.📒 Income or expense: tutoring fees received? (a) income (b) expense
32. 32.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹180 (transport)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
33. 33.Aarav’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹10 (transport)
    Expense: ₹360 (lemons)
    How much is the loss (in ₹)?
34. 34.Saanvi’s stall took in ₹360 on Friday, ₹70 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
35. 35.Meera’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹210 (transport)
    How much is the loss (in ₹)?
36. 36.Aarav’s income was ₹340 and the profit was ₹60. One expense was ₹230 (stall fee). How much was the other expense, for sugar (in ₹)?
37. 37.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
38. 38.Ishaan’s stall took in ₹340 on Friday, ₹50 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “a card order paid” is income (money in). (a) False (b) True
40. 40.True or false: “buying paper cups” is an expense (money out). (a) True (b) False

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