Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 32 · 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.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) buying lemons
4. 4.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
5. 5.Diya’s stall took in ₹190 on Friday, ₹390 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
6. 6.Kabir’s income was ₹160 and the profit was ₹90. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?
7. 7.📒 Income or expense: printing posters? (a) expense (b) income
8. 8.Saanvi’s income was ₹440 and the profit was ₹100. One expense was ₹230 (ribbon). How much was the other expense, for card paper (in ₹)?
9. 9.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) bus fare to the market
10. 10.📒 Income or expense: payment for a cake order? (a) expense (b) income
11. 11.📒 Income or expense: buying paper cups? (a) income (b) expense
12. 12.True or false: “buying lemons” is income (money in). (a) True (b) False
13. 13.True or false: “buying paper cups” is income (money in). (a) False (b) True
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) cash from selling plants (d) buying paper cups
15. 15.Ishaan’s stall took in ₹340 on Friday, ₹90 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
16. 16.📒 Income or expense: bus fare to the market? (a) income (b) expense
17. 17.True or false: “money from sales” is an expense (money out). (a) False (b) True
18. 18.📒 Income or expense: paying the stall fee? (a) expense (b) income
19. 19.Saanvi’s stall took in ₹180 on Friday, ₹170 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
20. 20.Ishaan’s stall took in ₹310 on Friday, ₹140 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
22. 22.Dev’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
23. 23.True or false: “money from sales” is income (money in). (a) False (b) True
24. 24.Kavya’s stall took in ₹130 on Friday, ₹50 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
25. 25.Lakshmi’s stall took in ₹90 on Friday, ₹260 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
26. 26.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
27. 27.True or false: “payment for a cake order” is income (money in). (a) True (b) False
28. 28.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
29. 29.Arjun’s stall took in ₹290 on Friday, ₹120 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
30. 30.Ishaan’s stall took in ₹80 on Friday, ₹350 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
31. 31.Gurpreet’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) a card order paid (d) buying paper cups
33. 33.Saanvi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
34. 34.Aarav’s stall took in ₹70 on Friday, ₹140 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
35. 35.Arjun’s income was ₹370 and the profit was ₹120. One expense was ₹210 (lemons). How much was the other expense, for transport (in ₹)?
36. 36.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) money from sales (d) payment for a cake order
37. 37.True or false: “paying the stall fee” is income (money in). (a) True (b) False
38. 38.Diya’s stall took in ₹90 on Friday, ₹380 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
39. 39.Dev’s income was ₹150 and the profit was ₹110. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
40. 40.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹120 (stall fee)
    Expense: ₹180 (sugar)
    How much is the loss (in ₹)?

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