Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 486 · 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.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) tutoring fees received (d) bus fare to the market
2. 2.📒 Income or expense: buying paper cups? (a) income (b) expense
3. 3.Farhan’s income was ₹170 and the profit was ₹150. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.Aarav’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹80 (paper cups)
   Expense: ₹140 (card paper)
   What is the profit (in ₹)?
6. 6.Aarav’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹420 (evening sales)
   Expense: ₹50 (card paper)
   Expense: ₹200 (transport)
   What is the profit (in ₹)?
7. 7.True or false: “a card order paid” is income (money in). (a) True (b) False
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
9. 9.Meera’s record for the day:
   Income: ₹460 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹160 (card paper)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: buying lemons? (a) income (b) expense
11. 11.Ananya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
12. 12.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
13. 13.Vihaan’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: payment for a cake order? (a) income (b) expense
15. 15.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
16. 16.Lakshmi’s stall took in ₹140 on Friday, ₹400 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
18. 18.Gurpreet’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
19. 19.Kabir’s income was ₹360 and the profit was ₹190. One expense was ₹160 (ribbon). How much was the other expense, for posters (in ₹)?
20. 20.📒 Income or expense: paying the stall fee? (a) income (b) expense
21. 21.📒 Income or expense: money from sales? (a) expense (b) income
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) paying the stall fee
23. 23.📒 Income or expense: cash from selling plants? (a) expense (b) income
24. 24.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) payment for a cake order (d) paying the stall fee
25. 25.📒 Income or expense: tutoring fees received? (a) income (b) expense
26. 26.Ishaan’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
27. 27.True or false: “a card order paid” is an expense (money out). (a) True (b) False
28. 28.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
29. 29.Meera’s stall took in ₹380 on Friday, ₹180 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
30. 30.Vihaan’s stall took in ₹110 on Friday, ₹240 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “tutoring fees received” is income (money in). (a) True (b) False
32. 32.Riya’s stall took in ₹220 on Friday, ₹130 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “payment for a cake order” is income (money in). (a) False (b) True
34. 34.Kavya’s stall took in ₹380 on Friday, ₹130 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
36. 36.True or false: “paying the stall fee” is income (money in). (a) True (b) False
37. 37.Rohan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
38. 38.Zoya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹130 (transport)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
39. 39.Zoya’s stall took in ₹200 on Friday, ₹380 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
40. 40.Meera’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?

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