Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 410 · 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 income (money in). (a) False (b) True
2. 2.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) tutoring fees received
3. 3.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) payment for a cake order (d) buying lemons
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying lemons (d) printing posters
6. 6.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
7. 7.Joseph’s stall took in ₹300 on Friday, ₹350 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
8. 8.Ananya’s stall took in ₹60 on Friday, ₹70 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
9. 9.Gurpreet’s record for the day:
   Income: ₹430 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹110 (lemons)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: payment for a cake order? (a) expense (b) income
11. 11.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
12. 12.Diya’s stall took in ₹390 on Friday, ₹350 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
13. 13.Riya’s income was ₹210 and the profit was ₹30. One expense was ₹90 (transport). How much was the other expense, for stall fee (in ₹)?
14. 14.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) a card order paid
16. 16.Arjun’s income was ₹500 and the profit was ₹20. One expense was ₹240 (sugar). How much was the other expense, for paper cups (in ₹)?
17. 17.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.📒 Income or expense: tutoring fees received? (a) expense (b) income
20. 20.📒 Income or expense: a card order paid? (a) income (b) expense
21. 21.📒 Income or expense: paying the stall fee? (a) income (b) expense
22. 22.Vihaan’s income was ₹470 and the profit was ₹80. One expense was ₹180 (card paper). How much was the other expense, for stall fee (in ₹)?
23. 23.Rohan’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
24. 24.Kabir’s income was ₹430 and the profit was ₹250. One expense was ₹140 (posters). How much was the other expense, for transport (in ₹)?
25. 25.Zoya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
26. 26.Ananya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
27. 27.Gurpreet’s stall took in ₹320 on Friday, ₹260 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
28. 28.Meera’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
29. 29.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
30. 30.True or false: “money from sales” is an expense (money out). (a) True (b) False
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) bus fare to the market
32. 32.Riya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹300 (paper cups)
    How much is the loss (in ₹)?
33. 33.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying paper cups (d) bus fare to the market
34. 34.Joseph’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
35. 35.Rohan’s stall took in ₹60 on Friday, ₹270 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
36. 36.Lakshmi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) a card order paid (d) cash from selling plants
39. 39.Rohan’s income was ₹210 and the profit was ₹190. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
40. 40.📒 Income or expense: printing posters? (a) income (b) expense

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