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Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 303 · 40 questions
TalentJR

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.

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  1. 1.Meera’s income was ₹310 and the profit was ₹280. One expense was ₹20 (ribbon). How much was the other expense, for transport (in ₹)?
  2. 2.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
  3. 3.Aarav’s stall took in ₹190 on Friday, ₹180 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
  4. 4.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹230 (lemons)
    Expense: ₹90 (sugar)
    How much is the loss (in ₹)?
  5. 5.📒 Income or expense: printing posters? (a) income (b) expense
  6. 6.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
  7. 7.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
  8. 8.True or false: “bus fare to the market” is income (money in). (a) True (b) False
  9. 9.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying paper cups (d) paying the stall fee
  10. 10.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
  11. 11.Ananya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹260 (transport)
    How much is the loss (in ₹)?
  12. 12.True or false: “printing posters” is an expense (money out). (a) True (b) False
  13. 13.Ishaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
  14. 14.True or false: “paying the stall fee” is income (money in). (a) True (b) False
  15. 15.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) tutoring fees received (d) money from sales
  16. 16.📒 Income or expense: payment for a cake order? (a) income (b) expense
  17. 17.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
  18. 18.Ananya’s stall took in ₹300 on Friday, ₹160 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
  19. 19.True or false: “cash from selling plants” is income (money in). (a) False (b) True
  20. 20.Farhan’s stall took in ₹200 on Friday, ₹400 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
  21. 21.Zoya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
  22. 22.Zoya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (posters)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
  23. 23.True or false: “a card order paid” is an expense (money out). (a) True (b) False
  24. 24.📒 Income or expense: money from sales? (a) expense (b) income
  25. 25.Tara’s income was ₹380 and the profit was ₹140. One expense was ₹220 (card paper). How much was the other expense, for paper cups (in ₹)?
  26. 26.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
  27. 27.True or false: “money from sales” is an expense (money out). (a) True (b) False
  28. 28.Joseph’s income was ₹450 and the profit was ₹220. One expense was ₹70 (paper cups). How much was the other expense, for transport (in ₹)?
  29. 29.Riya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
  30. 30.Meera’s stall took in ₹350 on Friday, ₹290 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
  31. 31.Diya’s stall took in ₹190 on Friday, ₹310 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
  32. 32.Diya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹90 (transport)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
  33. 33.Tara’s stall took in ₹370 on Friday, ₹130 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
  34. 34.Lakshmi’s stall took in ₹120 on Friday, ₹370 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
  35. 35.Vihaan’s stall took in ₹150 on Friday, ₹50 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
  36. 36.📒 Income or expense: buying lemons? (a) expense (b) income
  37. 37.Diya’s stall took in ₹390 on Friday, ₹230 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
  38. 38.Nisha’s income was ₹320 and the profit was ₹200. One expense was ₹20 (posters). How much was the other expense, for sugar (in ₹)?
  39. 39.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying paper cups (d) money from sales
  40. 40.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) money from sales (d) paying the stall fee

Answer key

  1. 10
  2. True
  3. 560
  4. 100
  5. expense
  6. the bill or receipt
  7. to know the real profit
  8. False
  9. cash from selling plants
  10. the same day
  11. 30
  12. True
  13. 230
  14. False
  15. paying the stall fee
  16. income
  17. False
  18. 730
  19. True
  20. 710
  21. 30
  22. 20
  23. False
  24. income
  25. 20
  26. income − expenses
  27. False
  28. 160
  29. 20
  30. 790
  31. 670
  32. 10
  33. 660
  34. 690
  35. 430
  36. expense
  37. 820
  38. 100
  39. buying paper cups
  40. money from sales

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