Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 274 · 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.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
2. 2.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
3. 3.True or false: “a card order paid” is an expense (money out). (a) True (b) False
4. 4.📒 Income or expense: money from sales? (a) expense (b) income
5. 5.True or false: “printing posters” is an expense (money out). (a) False (b) True
6. 6.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) buying paper cups (d) payment for a cake order
7. 7.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying lemons (d) printing posters
8. 8.True or false: “tutoring fees received” is income (money in). (a) False (b) True
9. 9.Nisha’s income was ₹140 and the profit was ₹110. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
10. 10.Ananya’s stall took in ₹390 on Friday, ₹190 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
11. 11.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.Ishaan’s income was ₹380 and the profit was ₹110. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
14. 14.True or false: “payment for a cake order” is income (money in). (a) False (b) True
15. 15.Diya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
16. 16.Aarav’s stall took in ₹90 on Friday, ₹400 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
17. 17.Riya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) buying paper cups
19. 19.📒 Income or expense: payment for a cake order? (a) income (b) expense
20. 20.Dev’s stall took in ₹180 on Friday, ₹400 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “printing posters” is income (money in). (a) False (b) True
22. 22.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) paying the stall fee (d) buying lemons
23. 23.Diya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: tutoring fees received? (a) expense (b) income
25. 25.Ananya’s income was ₹440 and the profit was ₹350. One expense was ₹70 (sugar). How much was the other expense, for transport (in ₹)?
26. 26.Zoya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹180 (posters)
    How much is the loss (in ₹)?
27. 27.Lakshmi’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
28. 28.Zoya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
29. 29.Dev’s stall took in ₹240 on Friday, ₹360 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying lemons (d) payment for a cake order
31. 31.Tara’s income was ₹250 and the profit was ₹200. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
32. 32.True or false: “cash from selling plants” is income (money in). (a) False (b) True
33. 33.📒 Income or expense: a card order paid? (a) expense (b) income
34. 34.Gurpreet’s stall took in ₹200 on Friday, ₹280 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
36. 36.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) buying lemons (d) bus fare to the market
37. 37.Kabir’s stall took in ₹110 on Friday, ₹200 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
38. 38.Tara’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹330 (paper cups)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
39. 39.Zoya’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
40. 40.True or false: “paying the stall fee” is income (money in). (a) True (b) False

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