Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 367 · 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: “payment for a cake order” is an expense (money out). (a) True (b) False
2. 2.True or false: “printing posters” is an expense (money out). (a) True (b) False
3. 3.True or false: “money from sales” is income (money in). (a) True (b) False
4. 4.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
5. 5.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) tutoring fees received
6. 6.Aarav’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹170 (stall fee)
   Expense: ₹20 (posters)
   How much is the loss (in ₹)?
7. 7.Kabir’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹90 (ribbon)
   Expense: ₹160 (transport)
   What is the profit (in ₹)?
8. 8.Meera’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹410 (evening sales)
   Expense: ₹60 (sugar)
   Expense: ₹190 (card paper)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) printing posters
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
11. 11.Diya’s income was ₹340 and the profit was ₹130. One expense was ₹180 (stall fee). How much was the other expense, for sugar (in ₹)?
12. 12.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
13. 13.📒 Income or expense: buying paper cups? (a) income (b) expense
14. 14.Rohan’s stall took in ₹320 on Friday, ₹150 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
15. 15.Riya’s stall took in ₹350 on Friday, ₹210 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
17. 17.Kavya’s income was ₹250 and the profit was ₹160. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
18. 18.Rohan’s income was ₹360 and the profit was ₹20. One expense was ₹120 (stall fee). How much was the other expense, for lemons (in ₹)?
19. 19.📒 Income or expense: money from sales? (a) income (b) expense
20. 20.Saanvi’s stall took in ₹170 on Friday, ₹350 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “bus fare to the market” is income (money in). (a) True (b) False
22. 22.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) printing posters (d) buying paper cups
23. 23.Tara’s stall took in ₹50 on Friday, ₹320 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
24. 24.Ishaan’s stall took in ₹280 on Friday, ₹70 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “money from sales” is an expense (money out). (a) True (b) False
26. 26.Lakshmi’s income was ₹210 and the profit was ₹130. One expense was ₹40 (posters). How much was the other expense, for lemons (in ₹)?
27. 27.True or false: “payment for a cake order” is income (money in). (a) False (b) True
28. 28.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) paying the stall fee (d) payment for a cake order
29. 29.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
30. 30.Zoya’s stall took in ₹250 on Friday, ₹80 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
31. 31.Saanvi’s income was ₹290 and the profit was ₹250. One expense was ₹10 (paper cups). How much was the other expense, for lemons (in ₹)?
32. 32.Kavya’s income was ₹290 and the profit was ₹170. One expense was ₹70 (stall fee). How much was the other expense, for sugar (in ₹)?
33. 33.📒 Income or expense: tutoring fees received? (a) expense (b) income
34. 34.True or false: “cash from selling plants” is income (money in). (a) False (b) True
35. 35.Aarav’s stall took in ₹340 on Friday, ₹280 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
36. 36.Saanvi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
37. 37.True or false: “tutoring fees received” is income (money in). (a) False (b) True
38. 38.Ishaan’s income was ₹340 and the profit was ₹310. One expense was ₹10 (paper cups). 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) bus fare to the market (d) a card order paid
40. 40.📒 Income or expense: a card order paid? (a) income (b) expense

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