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Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 485 · 40 questions
TalentJR

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.

NameDateTime takenScore ___ / 40
  1. 1.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
  2. 2.Riya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
  3. 3.📒 Income or expense: payment for a cake order? (a) expense (b) income
  4. 4.Zoya’s income was ₹370 and the profit was ₹110. One expense was ₹240 (ribbon). How much was the other expense, for card paper (in ₹)?
  5. 5.Meera’s stall took in ₹150 on Friday, ₹110 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
  6. 6.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
  7. 7.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) money from sales (d) buying lemons
  8. 8.Dev’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹90 (posters)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
  9. 9.Kavya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
  10. 10.Meera’s stall took in ₹270 on Friday, ₹280 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
  11. 11.📒 Income or expense: a card order paid? (a) expense (b) income
  12. 12.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
  13. 13.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
  14. 14.📒 Income or expense: money from sales? (a) income (b) expense
  15. 15.Dev’s stall took in ₹140 on Friday, ₹320 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
  16. 16.True or false: “a card order paid” is an expense (money out). (a) False (b) True
  17. 17.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) bus fare to the market (d) money from sales
  18. 18.Kavya’s stall took in ₹250 on Friday, ₹60 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
  19. 19.True or false: “money from sales” is income (money in). (a) True (b) False
  20. 20.True or false: “printing posters” is income (money in). (a) False (b) True
  21. 21.Nisha’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
  22. 22.Tara’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
  23. 23.True or false: “money from sales” is an expense (money out). (a) False (b) True
  24. 24.Lakshmi’s stall took in ₹80 on Friday, ₹310 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
  25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
  26. 26.Riya’s income was ₹170 and the profit was ₹110. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
  27. 27.True or false: “paying the stall fee” is income (money in). (a) True (b) False
  28. 28.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) paying the stall fee (d) buying lemons
  29. 29.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) money from sales (d) a card order paid
  30. 30.📒 Income or expense: buying paper cups? (a) income (b) expense
  31. 31.Riya’s income was ₹160 and the profit was ₹40. One expense was ₹70 (lemons). How much was the other expense, for card paper (in ₹)?
  32. 32.Nisha’s stall took in ₹290 on Friday, ₹210 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
  33. 33.Dev’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹250 (stall fee)
    How much is the loss (in ₹)?
  34. 34.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
  35. 35.📒 Income or expense: printing posters? (a) income (b) expense
  36. 36.Nisha’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
  37. 37.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
  38. 38.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
  39. 39.Rohan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹230 (stall fee)
    How much is the loss (in ₹)?
  40. 40.📒 Income or expense: buying lemons? (a) expense (b) income

Answer key

  1. the bill or receipt
  2. 130
  3. income
  4. 20
  5. 600
  6. income − expenses
  7. money from sales
  8. 10
  9. 10
  10. 750
  11. income
  12. False
  13. False
  14. income
  15. 680
  16. False
  17. bus fare to the market
  18. 470
  19. True
  20. False
  21. 260
  22. 200
  23. False
  24. 530
  25. income
  26. 50
  27. False
  28. payment for a cake order
  29. buying lemons
  30. expense
  31. 50
  32. 600
  33. 90
  34. 60
  35. expense
  36. 240
  37. 210
  38. 70
  39. 30
  40. expense

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