Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 360 · 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.True or false: “paying the stall fee” is income (money in). (a) True (b) False
2. 2.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
3. 3.Meera’s stall took in ₹210 on Friday, ₹110 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
4. 4.Ananya’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹160 (lemons)
   Expense: ₹20 (posters)
   How much is the loss (in ₹)?
5. 5.Arjun’s stall took in ₹260 on Friday, ₹240 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
6. 6.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
7. 7.True or false: “a card order paid” is an expense (money out). (a) False (b) True
8. 8.Saanvi’s income was ₹260 and the profit was ₹180. One expense was ₹50 (posters). How much was the other expense, for sugar (in ₹)?
9. 9.📒 Income or expense: payment for a cake order? (a) expense (b) income
10. 10.True or false: “printing posters” is income (money in). (a) True (b) False
11. 11.📒 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
12. 12.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
13. 13.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) paying the stall fee (d) tutoring fees received
14. 14.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
15. 15.Nisha’s income was ₹440 and the profit was ₹160. One expense was ₹60 (ribbon). How much was the other expense, for paper cups (in ₹)?
16. 16.📒 Income or expense: buying paper cups? (a) income (b) expense
17. 17.📒 Income or expense: paying the stall fee? (a) expense (b) income
18. 18.Tara’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹140 (transport)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
19. 19.Saanvi’s stall took in ₹70 on Friday, ₹380 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
20. 20.Saanvi’s income was ₹240 and the profit was ₹170. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
21. 21.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) a card order paid
22. 22.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
23. 23.True or false: “money from sales” is income (money in). (a) False (b) True
24. 24.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) buying paper cups
25. 25.Kavya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
26. 26.True or false: “printing posters” is an expense (money out). (a) True (b) False
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
28. 28.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) money from sales
29. 29.True or false: “payment for a cake order” is income (money in). (a) True (b) False
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Lakshmi’s income was ₹380 and the profit was ₹120. One expense was ₹150 (lemons). How much was the other expense, for card paper (in ₹)?
32. 32.Ishaan’s income was ₹180 and the profit was ₹130. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
34. 34.Arjun’s stall took in ₹120 on Friday, ₹320 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
35. 35.Saanvi’s income was ₹480 and the profit was ₹220. One expense was ₹120 (posters). How much was the other expense, for transport (in ₹)?
36. 36.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
37. 37.True or false: “buying lemons” is income (money in). (a) False (b) True
38. 38.Arjun’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
39. 39.Ananya’s income was ₹340 and the profit was ₹180. One expense was ₹90 (sugar). How much was the other expense, for transport (in ₹)?
40. 40.📒 Income or expense: a card order paid? (a) income (b) expense

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