Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 438 · 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 an expense (money out). (a) True (b) False
2. 2.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
3. 3.Zoya’s stall took in ₹150 on Friday, ₹380 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
4. 4.Nisha’s income was ₹180 and the profit was ₹150. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
5. 5.Kavya’s stall took in ₹300 on Friday, ₹70 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “money from sales” is income (money in). (a) False (b) True
7. 7.📒 Income or expense: money from sales? (a) income (b) expense
8. 8.📒 Income or expense: cash from selling plants? (a) expense (b) income
9. 9.Riya’s income was ₹270 and the profit was ₹170. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?
10. 10.Nisha’s stall took in ₹360 on Friday, ₹160 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
11. 11.Gurpreet’s stall took in ₹400 on Friday, ₹230 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
12. 12.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
13. 13.Meera’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
14. 14.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
15. 15.Lakshmi’s stall took in ₹300 on Friday, ₹140 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
16. 16.Kavya’s income was ₹330 and the profit was ₹230. One expense was ₹90 (sugar). How much was the other expense, for transport (in ₹)?
17. 17.True or false: “buying paper cups” is income (money in). (a) False (b) True
18. 18.True or false: “paying the stall fee” is income (money in). (a) True (b) False
19. 19.True or false: “payment for a cake order” is income (money in). (a) False (b) True
20. 20.Rohan’s stall took in ₹230 on Friday, ₹250 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
21. 21.Zoya’s stall took in ₹360 on Friday, ₹390 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: a card order paid? (a) expense (b) income
23. 23.📒 Income or expense: tutoring fees received? (a) expense (b) income
24. 24.Dev’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) a card order paid (d) cash from selling plants
27. 27.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹10 (transport)
    Expense: ₹220 (posters)
    How much is the loss (in ₹)?
28. 28.📒 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
29. 29.Saanvi’s income was ₹280 and the profit was ₹190. One expense was ₹10 (paper cups). How much was the other expense, for sugar (in ₹)?
30. 30.📒 Income or expense: paying the stall fee? (a) expense (b) income
31. 31.Kavya’s stall took in ₹350 on Friday, ₹350 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) printing posters (d) bus fare to the market
33. 33.📒 Income or expense: buying paper cups? (a) expense (b) income
34. 34.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) printing posters (d) money from sales
36. 36.True or false: “buying lemons” is income (money in). (a) True (b) False
37. 37.True or false: “a card order paid” is income (money in). (a) False (b) True
38. 38.Farhan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹60 (transport)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
39. 39.Dev’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
40. 40.Nisha’s income was ₹480 and the profit was ₹290. One expense was ₹70 (sugar). How much was the other expense, for transport (in ₹)?

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