Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 295 · 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) paying the stall fee (b) bus fare to the market (c) buying lemons (d) a card order paid
2. 2.True or false: “paying the stall fee” is income (money in). (a) False (b) True
3. 3.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
4. 4.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.Kabir’s stall took in ₹300 on Friday, ₹400 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “buying lemons” is income (money in). (a) True (b) False
8. 8.📒 Income or expense: printing posters? (a) expense (b) income
9. 9.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying lemons (d) money from sales
10. 10.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) tutoring fees received (d) buying lemons
12. 12.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
13. 13.Ananya’s income was ₹360 and the profit was ₹210. One expense was ₹80 (ribbon). How much was the other expense, for transport (in ₹)?
14. 14.Nisha’s stall took in ₹120 on Friday, ₹270 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: paying the stall fee? (a) income (b) expense
16. 16.Riya’s income was ₹260 and the profit was ₹80. One expense was ₹170 (lemons). How much was the other expense, for ribbon (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
18. 18.True or false: “cash from selling plants” is income (money in). (a) True (b) False
19. 19.Ananya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
20. 20.True or false: “printing posters” is income (money in). (a) False (b) True
21. 21.Diya’s income was ₹150 and the profit was ₹80. One expense was ₹20 (stall fee). How much was the other expense, for transport (in ₹)?
22. 22.Arjun’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?
23. 23.Nisha’s income was ₹430 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
24. 24.Aarav’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹180 (lemons)
    How much is the loss (in ₹)?
25. 25.Joseph’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
26. 26.Riya’s stall took in ₹80 on Friday, ₹390 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
27. 27.Zoya’s stall took in ₹300 on Friday, ₹340 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “a card order paid” is income (money in). (a) True (b) False
29. 29.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) payment for a cake order (d) bus fare to the market
30. 30.Kavya’s stall took in ₹50 on Friday, ₹350 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
31. 31.Diya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
32. 32.Nisha’s income was ₹110 and the profit was ₹10. One expense was ₹30 (sugar). How much was the other expense, for ribbon (in ₹)?
33. 33.True or false: “money from sales” is an expense (money out). (a) True (b) False
34. 34.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
35. 35.📒 Income or expense: cash from selling plants? (a) expense (b) income
36. 36.Aarav’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
37. 37.Zoya’s stall took in ₹130 on Friday, ₹200 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
38. 38.Diya’s income was ₹220 and the profit was ₹130. One expense was ₹40 (stall fee). How much was the other expense, for card paper (in ₹)?
39. 39.Ananya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹170 (transport)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
40. 40.Kabir’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?

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