Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 284 · 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) money from sales (b) bus fare to the market (c) printing posters (d) buying lemons
2. 2.Kavya’s income was ₹390 and the profit was ₹350. One expense was ₹20 (lemons). How much was the other expense, for posters (in ₹)?
3. 3.📒 Income or expense: bus fare to the market? (a) income (b) expense
4. 4.📒 Income or expense: paying the stall fee? (a) expense (b) income
5. 5.Rohan’s stall took in ₹180 on Friday, ₹150 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “a card order paid” is an expense (money out). (a) True (b) False
7. 7.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
8. 8.Meera’s income was ₹160 and the profit was ₹110. One expense was ₹40 (paper cups). How much was the other expense, for stall fee (in ₹)?
9. 9.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
10. 10.True or false: “payment for a cake order” is income (money in). (a) False (b) True
11. 11.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
12. 12.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) bus fare to the market (d) tutoring fees received
13. 13.Kavya’s income was ₹140 and the profit was ₹40. One expense was ₹10 (transport). How much was the other expense, for posters (in ₹)?
14. 14.Kabir’s stall took in ₹330 on Friday, ₹190 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: buying lemons? (a) income (b) expense
16. 16.True or false: “bus fare to the market” is income (money in). (a) True (b) False
17. 17.Meera’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) paying the stall fee
19. 19.Farhan’s income was ₹450 and the profit was ₹190. One expense was ₹40 (ribbon). How much was the other expense, for posters (in ₹)?
20. 20.True or false: “buying lemons” is an expense (money out). (a) False (b) True
21. 21.Ananya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
22. 22.Ishaan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
23. 23.Joseph’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: payment for a cake order? (a) expense (b) income
25. 25.Farhan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) printing posters (d) cash from selling plants
27. 27.📒 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
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.📒 Income or expense: a card order paid? (a) income (b) expense
30. 30.Nisha’s stall took in ₹350 on Friday, ₹300 on Saturday and ₹350 on Sunday. What was the total income (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.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹240 (posters)
    How much is the loss (in ₹)?
33. 33.Tara’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
34. 34.Kavya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
35. 35.Lakshmi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
36. 36.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
37. 37.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: buying paper cups? (a) income (b) expense
39. 39.True or false: “paying the stall fee” is income (money in). (a) False (b) True
40. 40.📒 Income or expense: printing posters? (a) income (b) expense

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