Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 470 · 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.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
3. 3.📒 Income or expense: tutoring fees received? (a) income (b) expense
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) buying paper cups
5. 5.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) cash from selling plants (d) money from sales
6. 6.True or false: “money from sales” is an expense (money out). (a) True (b) False
7. 7.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
8. 8.Rohan’s stall took in ₹90 on Friday, ₹160 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “buying lemons” is an expense (money out). (a) False (b) True
10. 10.Rohan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹90 (transport)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
11. 11.Kavya’s income was ₹440 and the profit was ₹30. One expense was ₹100 (ribbon). How much was the other expense, for lemons (in ₹)?
12. 12.Diya’s income was ₹450 and the profit was ₹50. One expense was ₹370 (ribbon). How much was the other expense, for card paper (in ₹)?
13. 13.Ananya’s income was ₹360 and the profit was ₹160. One expense was ₹80 (ribbon). How much was the other expense, for sugar (in ₹)?
14. 14.True or false: “printing posters” is an expense (money out). (a) False (b) True
15. 15.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
16. 16.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) paying the stall fee
17. 17.Lakshmi’s income was ₹150 and the profit was ₹60. One expense was ₹80 (sugar). How much was the other expense, for paper cups (in ₹)?
18. 18.Riya’s stall took in ₹110 on Friday, ₹80 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “cash from selling plants” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: money from sales? (a) expense (b) income
21. 21.Rohan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
22. 22.Zoya’s stall took in ₹90 on Friday, ₹80 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
23. 23.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
24. 24.Saanvi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: payment for a cake order? (a) income (b) expense
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) money from sales (d) a card order paid
27. 27.Aarav’s stall took in ₹150 on Friday, ₹150 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
28. 28.Tara’s income was ₹370 and the profit was ₹180. One expense was ₹180 (lemons). How much was the other expense, for ribbon (in ₹)?
29. 29.Ishaan’s stall took in ₹140 on Friday, ₹170 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
30. 30.Arjun’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹100 (transport)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
31. 31.Nisha’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
32. 32.True or false: “paying the stall fee” is income (money in). (a) True (b) False
33. 33.Saanvi’s income was ₹120 and the profit was ₹70. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
34. 34.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
35. 35.Dev’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹60 (posters)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
36. 36.Arjun’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) income (b) expense
38. 38.Dev’s stall took in ₹180 on Friday, ₹240 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
39. 39.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
40. 40.Lakshmi’s stall took in ₹280 on Friday, ₹60 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?

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