Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 414 · 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.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.📒 Income or expense: printing posters? (a) expense (b) income
5. 5.Ananya’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹60 (lemons)
   Expense: ₹220 (card paper)
   How much is the loss (in ₹)?
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) a card order paid (d) paying the stall fee
7. 7.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
8. 8.Saanvi’s stall took in ₹250 on Friday, ₹160 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: payment for a cake order? (a) income (b) expense
10. 10.Meera’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹20 (transport)
    Expense: ₹270 (posters)
    How much is the loss (in ₹)?
11. 11.Ishaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹60 (transport)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: bus fare to the market? (a) income (b) expense
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) money from sales (d) a card order paid
14. 14.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
15. 15.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
16. 16.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
17. 17.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
18. 18.True or false: “a card order paid” is an expense (money out). (a) True (b) False
19. 19.📒 Income or expense: tutoring fees received? (a) expense (b) income
20. 20.True or false: “bus fare to the market” is income (money in). (a) True (b) False
21. 21.True or false: “buying lemons” is income (money in). (a) False (b) True
22. 22.True or false: “a card order paid” is income (money in). (a) True (b) False
23. 23.Aarav’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
25. 25.Ishaan’s income was ₹130 and the profit was ₹110. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
26. 26.True or false: “printing posters” is an expense (money out). (a) False (b) True
27. 27.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) buying lemons (d) cash from selling plants
28. 28.Nisha’s income was ₹280 and the profit was ₹150. One expense was ₹110 (card paper). How much was the other expense, for stall fee (in ₹)?
29. 29.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
30. 30.Diya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
31. 31.📒 Income or expense: cash from selling plants? (a) income (b) expense
32. 32.True or false: “cash from selling plants” is income (money in). (a) False (b) True
33. 33.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
34. 34.Gurpreet’s income was ₹160 and the profit was ₹30. One expense was ₹100 (lemons). How much was the other expense, for stall fee (in ₹)?
35. 35.True or false: “tutoring fees received” is income (money in). (a) False (b) True
36. 36.True or false: “money from sales” is income (money in). (a) False (b) True
37. 37.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) cash from selling plants (d) tutoring fees received
38. 38.Kabir’s stall took in ₹380 on Friday, ₹210 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
39. 39.Kavya’s stall took in ₹330 on Friday, ₹310 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
40. 40.Ananya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?

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