Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 463 · 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: “paying the stall fee” is an expense (money out). (a) False (b) True
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) payment for a cake order
3. 3.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
4. 4.📒 Income or expense: paying the stall fee? (a) income (b) expense
5. 5.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) tutoring fees received (d) printing posters
6. 6.Meera’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹140 (posters)
   Expense: ₹50 (paper cups)
   How much is the loss (in ₹)?
7. 7.Meera’s income was ₹410 and the profit was ₹240. One expense was ₹80 (stall fee). How much was the other expense, for sugar (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
9. 9.Lakshmi’s stall took in ₹100 on Friday, ₹110 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: money from sales? (a) income (b) expense
11. 11.True or false: “money from sales” is an expense (money out). (a) False (b) True
12. 12.Ishaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
13. 13.Ananya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
14. 14.Arjun’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
15. 15.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) tutoring fees received (d) money from sales
16. 16.Farhan’s income was ₹100 and the profit was ₹20. One expense was ₹40 (card paper). How much was the other expense, for lemons (in ₹)?
17. 17.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying lemons (d) a card order paid
19. 19.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
20. 20.Vihaan’s stall took in ₹250 on Friday, ₹370 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
21. 21.Tara’s stall took in ₹90 on Friday, ₹120 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
22. 22.Dev’s stall took in ₹140 on Friday, ₹400 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
23. 23.📒 Income or expense: tutoring fees received? (a) income (b) expense
24. 24.📒 Income or expense: cash from selling plants? (a) expense (b) income
25. 25.Ananya’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
26. 26.Vihaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
27. 27.Kabir’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
28. 28.True or false: “buying lemons” is an expense (money out). (a) False (b) True
29. 29.True or false: “tutoring fees received” is income (money in). (a) False (b) True
30. 30.True or false: “printing posters” is income (money in). (a) True (b) False
31. 31.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
32. 32.Ishaan’s income was ₹130 and the profit was ₹40. One expense was ₹40 (stall fee). How much was the other expense, for ribbon (in ₹)?
33. 33.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) paying the stall fee (d) bus fare to the market
34. 34.📒 Income or expense: buying paper cups? (a) expense (b) income
35. 35.Saanvi’s stall took in ₹270 on Friday, ₹380 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: a card order paid? (a) income (b) expense
37. 37.Diya’s stall took in ₹320 on Friday, ₹50 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
38. 38.Vihaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
39. 39.Kabir’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
40. 40.Dev’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (transport)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?

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