Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 462 · 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: “bus fare to the market” is an expense (money out). (a) False (b) True
2. 2.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) bus fare to the market (d) a card order paid
3. 3.📒 Income or expense: buying paper cups? (a) expense (b) income
4. 4.Diya’s stall took in ₹130 on Friday, ₹60 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) paying the stall fee (d) cash from selling plants
6. 6.📒 Income or expense: money from sales? (a) income (b) expense
7. 7.📒 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
8. 8.Lakshmi’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹120 (transport)
   Expense: ₹10 (ribbon)
   How much is the loss (in ₹)?
9. 9.True or false: “buying lemons” is an expense (money out). (a) True (b) False
10. 10.Dev’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
11. 11.Saanvi’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
14. 14.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
15. 15.Diya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
16. 16.Ishaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹140 (transport)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
17. 17.True or false: “money from sales” is an expense (money out). (a) False (b) True
18. 18.Zoya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: a card order paid? (a) expense (b) income
20. 20.Which of these is income (money in)? (a) printing posters (b) money from sales (c) paying the stall fee (d) buying paper cups
21. 21.Gurpreet’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹230 (paper cups)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
22. 22.Riya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹200 (paper cups)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
23. 23.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) paying the stall fee (d) printing posters
24. 24.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) payment for a cake order (d) a card order paid
25. 25.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
26. 26.Lakshmi’s stall took in ₹130 on Friday, ₹100 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) bus fare to the market (d) printing posters
28. 28.Kavya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
29. 29.Meera’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
30. 30.True or false: “money from sales” is income (money in). (a) False (b) True
31. 31.Ishaan’s stall took in ₹350 on Friday, ₹260 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
33. 33.Lakshmi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
34. 34.True or false: “printing posters” is income (money in). (a) False (b) True
35. 35.True or false: “a card order paid” is income (money in). (a) False (b) True
36. 36.Rohan’s stall took in ₹220 on Friday, ₹300 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) a card order paid (d) tutoring fees received
38. 38.📒 Income or expense: buying lemons? (a) expense (b) income
39. 39.Ananya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
40. 40.Ishaan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?

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