Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 456 · 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) False (b) True
2. 2.📒 Income or expense: buying lemons? (a) expense (b) income
3. 3.📒 Income or expense: cash from selling plants? (a) expense (b) income
4. 4.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
5. 5.Meera’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹300 (transport)
   Expense: ₹20 (stall fee)
   How much is the loss (in ₹)?
6. 6.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
8. 8.True or false: “tutoring fees received” is income (money in). (a) False (b) True
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) a card order paid (d) buying lemons
10. 10.Saanvi’s income was ₹410 and the profit was ₹60. One expense was ₹310 (posters). How much was the other expense, for sugar (in ₹)?
11. 11.Aarav’s income was ₹480 and the profit was ₹320. One expense was ₹70 (transport). How much was the other expense, for paper cups (in ₹)?
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) tutoring fees received
13. 13.True or false: “bus fare to the market” is income (money in). (a) False (b) True
14. 14.True or false: “buying lemons” is income (money in). (a) False (b) True
15. 15.True or false: “a card order paid” is income (money in). (a) True (b) False
16. 16.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) money from sales (d) bus fare to the market
17. 17.📒 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
18. 18.Saanvi’s stall took in ₹100 on Friday, ₹140 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “money from sales” is income (money in). (a) False (b) True
20. 20.Saanvi’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
21. 21.Farhan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
22. 22.Vihaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
23. 23.Rohan’s stall took in ₹250 on Friday, ₹370 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
24. 24.Meera’s income was ₹450 and the profit was ₹30. One expense was ₹140 (stall fee). How much was the other expense, for lemons (in ₹)?
25. 25.True or false: “payment for a cake order” is income (money in). (a) False (b) True
26. 26.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) payment for a cake order (d) buying paper cups
27. 27.📒 Income or expense: printing posters? (a) income (b) expense
28. 28.True or false: “a card order paid” is an expense (money out). (a) True (b) False
29. 29.Meera’s stall took in ₹50 on Friday, ₹60 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: paying the stall fee? (a) income (b) expense
31. 31.📒 Income or expense: bus fare to the market? (a) expense (b) income
32. 32.Arjun’s stall took in ₹180 on Friday, ₹400 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
33. 33.Kabir’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
34. 34.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) bus fare to the market (d) a card order paid
35. 35.📒 Income or expense: buying paper cups? (a) expense (b) income
36. 36.Saanvi’s income was ₹160 and the profit was ₹10. One expense was ₹30 (card paper). How much was the other expense, for sugar (in ₹)?
37. 37.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
38. 38.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
39. 39.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying lemons (d) buying paper cups
40. 40.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?

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