Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 447 · 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: “tutoring fees received” is an expense (money out). (a) True (b) False
2. 2.Farhan’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹110 (transport)
   Expense: ₹60 (ribbon)
   What is the profit (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
4. 4.True or false: “a card order paid” is an expense (money out). (a) True (b) False
5. 5.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) buying paper cups (d) paying the stall fee
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.Zoya’s income was ₹380 and the profit was ₹100. One expense was ₹120 (lemons). How much was the other expense, for paper cups (in ₹)?
8. 8.Diya’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹20 (paper cups)
   Expense: ₹170 (card paper)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) buying lemons (d) tutoring fees received
10. 10.True or false: “money from sales” is income (money in). (a) True (b) False
11. 11.📒 Income or expense: tutoring fees received? (a) expense (b) income
12. 12.True or false: “payment for a cake order” is income (money in). (a) False (b) True
13. 13.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) cash from selling plants (d) payment for a cake order
14. 14.📒 Income or expense: a card order paid? (a) expense (b) income
15. 15.Kavya’s income was ₹240 and the profit was ₹150. One expense was ₹50 (lemons). How much was the other expense, for ribbon (in ₹)?
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) printing posters (d) bus fare to the market
18. 18.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
19. 19.📒 Income or expense: bus fare to the market? (a) income (b) expense
20. 20.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
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) money from sales
22. 22.Lakshmi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
23. 23.Dev’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
24. 24.Diya’s income was ₹400 and the profit was ₹100. One expense was ₹130 (ribbon). How much was the other expense, for paper cups (in ₹)?
25. 25.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
26. 26.True or false: “a card order paid” is income (money in). (a) True (b) False
27. 27.📒 Income or expense: paying the stall fee? (a) expense (b) income
28. 28.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
29. 29.Riya’s stall took in ₹250 on Friday, ₹250 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) cash from selling plants
31. 31.Ananya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
32. 32.True or false: “tutoring fees received” is income (money in). (a) True (b) False
33. 33.Riya’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
34. 34.Kavya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
35. 35.Ananya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
36. 36.Arjun’s stall took in ₹350 on Friday, ₹270 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “money from sales” is an expense (money out). (a) True (b) False
38. 38.Arjun’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
39. 39.Kavya’s income was ₹480 and the profit was ₹460. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
40. 40.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹40 (transport)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?

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