Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 446 · 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) False (b) True
2. 2.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) buying lemons
3. 3.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) money from sales (d) printing posters
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) bus fare to the market (d) a card order paid
6. 6.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) a card order paid (d) payment for a cake order
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) tutoring fees received
8. 8.True or false: “paying the stall fee” is income (money in). (a) True (b) False
9. 9.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
10. 10.📒 Income or expense: money from sales? (a) income (b) expense
11. 11.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
12. 12.Zoya’s stall took in ₹270 on Friday, ₹120 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
13. 13.📒 Income or expense: a card order paid? (a) expense (b) income
14. 14.📒 Income or expense: buying lemons? (a) income (b) expense
15. 15.Saanvi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
17. 17.Ananya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
19. 19.Nisha’s stall took in ₹180 on Friday, ₹190 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
20. 20.Nisha’s income was ₹360 and the profit was ₹320. One expense was ₹30 (transport). How much was the other expense, for lemons (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying paper cups (d) buying lemons
22. 22.Nisha’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
23. 23.Aarav’s stall took in ₹310 on Friday, ₹360 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) money from sales (d) tutoring fees received
25. 25.True or false: “buying lemons” is income (money in). (a) True (b) False
26. 26.Nisha’s income was ₹300 and the profit was ₹140. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
27. 27.Lakshmi’s stall took in ₹320 on Friday, ₹90 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
28. 28.Aarav’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
29. 29.Ishaan’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
30. 30.Kavya’s stall took in ₹70 on Friday, ₹280 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
32. 32.Nisha’s stall took in ₹120 on Friday, ₹260 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
34. 34.True or false: “bus fare to the market” is income (money in). (a) False (b) True
35. 35.📒 Income or expense: tutoring fees received? (a) expense (b) income
36. 36.Arjun’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: paying the stall fee? (a) income (b) expense
38. 38.Riya’s income was ₹470 and the profit was ₹260. One expense was ₹120 (card paper). How much was the other expense, for stall fee (in ₹)?
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
40. 40.Saanvi’s income was ₹100 and the profit was ₹30. One expense was ₹40 (paper cups). How much was the other expense, for posters (in ₹)?

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