Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 391 · 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: “a card order paid” is income (money in). (a) False (b) True
2. 2.Arjun’s stall took in ₹130 on Friday, ₹270 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
3. 3.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) money from sales (d) bus fare to the market
4. 4.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
5. 5.📒 Income or expense: printing posters? (a) expense (b) income
6. 6.True or false: “a card order paid” is an expense (money out). (a) False (b) True
7. 7.📒 Income or expense: tutoring fees received? (a) expense (b) income
8. 8.📒 Income or expense: buying paper cups? (a) income (b) expense
9. 9.Diya’s stall took in ₹300 on Friday, ₹110 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
11. 11.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
12. 12.Joseph’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
13. 13.Joseph’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying lemons (d) money from sales
15. 15.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) paying the stall fee
16. 16.True or false: “buying paper cups” is income (money in). (a) False (b) True
17. 17.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
18. 18.Nisha’s income was ₹160 and the profit was ₹20. One expense was ₹130 (paper cups). How much was the other expense, for sugar (in ₹)?
19. 19.True or false: “buying lemons” is income (money in). (a) True (b) False
20. 20.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) a card order paid
21. 21.📒 Income or expense: paying the stall fee? (a) expense (b) income
22. 22.Rohan’s stall took in ₹260 on Friday, ₹100 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
23. 23.📒 Income or expense: cash from selling plants? (a) income (b) expense
24. 24.📒 Income or expense: bus fare to the market? (a) expense (b) income
25. 25.Riya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹240 (paper cups)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: a card order paid? (a) income (b) expense
27. 27.Diya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
28. 28.True or false: “printing posters” is an expense (money out). (a) True (b) False
29. 29.Lakshmi’s stall took in ₹270 on Friday, ₹300 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying lemons (d) paying the stall fee
31. 31.True or false: “money from sales” is an expense (money out). (a) False (b) True
32. 32.Diya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹260 (stall fee)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
33. 33.Tara’s stall took in ₹360 on Friday, ₹120 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) bus fare to the market (d) tutoring fees received
35. 35.Riya’s income was ₹410 and the profit was ₹320. One expense was ₹60 (stall fee). How much was the other expense, for sugar (in ₹)?
36. 36.True or false: “bus fare to the market” is income (money in). (a) False (b) True
37. 37.Ananya’s stall took in ₹270 on Friday, ₹320 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
38. 38.Ishaan’s stall took in ₹50 on Friday, ₹270 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
39. 39.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
40. 40.Rohan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?

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