Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 363 · 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 look busy (b) to know the real profit (c) to fill a notebook (d) no reason
2. 2.Which of these is income (money in)? (a) money from sales (b) printing posters (c) bus fare to the market (d) buying paper cups
3. 3.True or false: “money from sales” is an expense (money out). (a) True (b) False
4. 4.📒 Income or expense: cash from selling plants? (a) income (b) expense
5. 5.Dev’s stall took in ₹210 on Friday, ₹50 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
6. 6.📒 Income or expense: paying the stall fee? (a) expense (b) income
7. 7.📒 Income or expense: buying lemons? (a) income (b) expense
8. 8.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
9. 9.Kavya’s stall took in ₹230 on Friday, ₹210 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
10. 10.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (transport)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
11. 11.Joseph’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
12. 12.Arjun’s stall took in ₹140 on Friday, ₹50 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) income (b) expense
14. 14.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
15. 15.Zoya’s stall took in ₹300 on Friday, ₹150 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
16. 16.Riya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
17. 17.Ananya’s income was ₹500 and the profit was ₹120. One expense was ₹40 (sugar). How much was the other expense, for lemons (in ₹)?
18. 18.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) buying lemons (d) printing posters
19. 19.Saanvi’s income was ₹190 and the profit was ₹130. One expense was ₹30 (stall fee). How much was the other expense, for card paper (in ₹)?
20. 20.True or false: “buying lemons” is an expense (money out). (a) False (b) True
21. 21.Ishaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
22. 22.Zoya’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
23. 23.True or false: “tutoring fees received” is income (money in). (a) False (b) True
24. 24.Saanvi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹180 (transport)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
25. 25.Meera’s income was ₹260 and the profit was ₹40. One expense was ₹170 (stall fee). How much was the other expense, for lemons (in ₹)?
26. 26.📒 Income or expense: a card order paid? (a) expense (b) income
27. 27.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) cash from selling plants
28. 28.True or false: “buying lemons” is income (money in). (a) False (b) True
29. 29.Kavya’s income was ₹360 and the profit was ₹110. One expense was ₹220 (lemons). How much was the other expense, for posters (in ₹)?
30. 30.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) payment for a cake order
31. 31.True or false: “buying paper cups” is income (money in). (a) False (b) True
32. 32.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) bus fare to the market (d) cash from selling plants
33. 33.Aarav’s income was ₹450 and the profit was ₹210. One expense was ₹70 (transport). How much was the other expense, for sugar (in ₹)?
34. 34.Dev’s income was ₹140 and the profit was ₹70. One expense was ₹40 (posters). How much was the other expense, for sugar (in ₹)?
35. 35.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
36. 36.Rohan’s income was ₹420 and the profit was ₹30. One expense was ₹280 (paper cups). How much was the other expense, for stall fee (in ₹)?
37. 37.📒 Income or expense: buying paper cups? (a) income (b) expense
38. 38.Ananya’s stall took in ₹80 on Friday, ₹70 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
39. 39.Rohan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
40. 40.Vihaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹110 (posters)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?

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