Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 276 · 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: money from sales? (a) income (b) expense
2. 2.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
3. 3.📒 Income or expense: cash from selling plants? (a) expense (b) income
4. 4.📒 Income or expense: tutoring fees received? (a) expense (b) income
5. 5.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) paying the stall fee (d) bus fare to the market
6. 6.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) bus fare to the market
7. 7.Gurpreet’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹50 (stall fee)
   What is the profit (in ₹)?
8. 8.Ananya’s stall took in ₹200 on Friday, ₹340 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) buying lemons
10. 10.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) buying lemons
11. 11.Arjun’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
12. 12.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
13. 13.Kabir’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
14. 14.Rohan’s stall took in ₹210 on Friday, ₹300 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
15. 15.Kabir’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
16. 16.Gurpreet’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹220 (sugar)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: bus fare to the market? (a) income (b) expense
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.True or false: “money from sales” is an expense (money out). (a) True (b) False
20. 20.Riya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: buying lemons? (a) expense (b) income
22. 22.Rohan’s income was ₹350 and the profit was ₹320. One expense was ₹20 (posters). How much was the other expense, for lemons (in ₹)?
23. 23.True or false: “printing posters” is income (money in). (a) False (b) True
24. 24.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
25. 25.Kabir’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
26. 26.Joseph’s stall took in ₹140 on Friday, ₹280 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
27. 27.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
28. 28.Lakshmi’s stall took in ₹160 on Friday, ₹170 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
29. 29.Joseph’s stall took in ₹60 on Friday, ₹90 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
30. 30.Nisha’s income was ₹390 and the profit was ₹90. One expense was ₹90 (sugar). How much was the other expense, for ribbon (in ₹)?
31. 31.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) money from sales (d) tutoring fees received
32. 32.Arjun’s income was ₹270 and the profit was ₹250. One expense was ₹10 (transport). How much was the other expense, for posters (in ₹)?
33. 33.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
34. 34.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
36. 36.Ananya’s income was ₹160 and the profit was ₹30. One expense was ₹100 (card paper). How much was the other expense, for ribbon (in ₹)?
37. 37.Riya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
38. 38.Dev’s stall took in ₹70 on Friday, ₹170 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “payment for a cake order” is income (money in). (a) False (b) True
40. 40.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying paper cups (d) buying lemons

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