Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 287 · 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: buying paper cups? (a) expense (b) income
2. 2.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
3. 3.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) bus fare to the market
4. 4.Riya’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹110 (card paper)
   Expense: ₹180 (sugar)
   How much is the loss (in ₹)?
5. 5.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
6. 6.Diya’s stall took in ₹250 on Friday, ₹290 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
7. 7.Lakshmi’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹160 (posters)
   Expense: ₹110 (card paper)
   What is the profit (in ₹)?
8. 8.Lakshmi’s stall took in ₹280 on Friday, ₹330 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) a card order paid
10. 10.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) money from sales (d) paying the stall fee
11. 11.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
12. 12.True or false: “payment for a cake order” is income (money in). (a) False (b) True
13. 13.Ananya’s stall took in ₹70 on Friday, ₹270 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
14. 14.Nisha’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
15. 15.Gurpreet’s stall took in ₹140 on Friday, ₹60 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
16. 16.Arjun’s stall took in ₹340 on Friday, ₹180 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) buying lemons
18. 18.Nisha’s stall took in ₹120 on Friday, ₹210 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “printing posters” is income (money in). (a) False (b) True
20. 20.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
21. 21.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying paper cups (d) tutoring fees received
22. 22.Saanvi’s income was ₹190 and the profit was ₹60. One expense was ₹110 (transport). How much was the other expense, for sugar (in ₹)?
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) cash from selling plants (d) money from sales
24. 24.True or false: “buying lemons” is income (money in). (a) False (b) True
25. 25.Kabir’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
26. 26.Kabir’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: payment for a cake order? (a) income (b) expense
28. 28.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
29. 29.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) buying lemons (d) buying paper cups
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
31. 31.📒 Income or expense: paying the stall fee? (a) expense (b) income
32. 32.Rohan’s income was ₹270 and the profit was ₹200. One expense was ₹60 (paper cups). How much was the other expense, for stall fee (in ₹)?
33. 33.Nisha’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
34. 34.Meera’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) printing posters (d) a card order paid
36. 36.Ananya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.📒 Income or expense: cash from selling plants? (a) income (b) expense
39. 39.Nisha’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
40. 40.Meera’s stall took in ₹150 on Friday, ₹90 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?

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