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Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 494 · 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.True or false: “money from sales” is an expense (money out). (a) True (b) False
  2. 2.True or false: “buying lemons” is an expense (money out). (a) True (b) False
  3. 3.True or false: “money from sales” is income (money in). (a) True (b) False
  4. 4.Riya’s stall took in ₹160 on Friday, ₹250 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
  5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
  6. 6.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
  7. 7.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
  8. 8.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
  9. 9.📒 Income or expense: a card order paid? (a) income (b) expense
  10. 10.Tara’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹80 (posters)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
  11. 11.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) money from sales (d) paying the stall fee
  12. 12.Riya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
  13. 13.Diya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
  14. 14.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) buying lemons (d) paying the stall fee
  15. 15.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) paying the stall fee
  16. 16.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying paper cups (d) paying the stall fee
  17. 17.Lakshmi’s stall took in ₹90 on Friday, ₹60 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
  18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
  19. 19.Farhan’s stall took in ₹120 on Friday, ₹230 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
  20. 20.Joseph’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
  21. 21.True or false: “buying paper cups” is income (money in). (a) True (b) False
  22. 22.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) a card order paid
  23. 23.Ananya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
  24. 24.Aarav’s stall took in ₹130 on Friday, ₹360 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
  25. 25.Saanvi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹280 (posters)
    How much is the loss (in ₹)?
  26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying lemons (d) tutoring fees received
  27. 27.Ishaan’s income was ₹140 and the profit was ₹60. One expense was ₹40 (transport). How much was the other expense, for ribbon (in ₹)?
  28. 28.Rohan’s income was ₹140 and the profit was ₹80. One expense was ₹20 (transport). How much was the other expense, for lemons (in ₹)?
  29. 29.Kabir’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹70 (posters)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
  30. 30.📒 Income or expense: money from sales? (a) income (b) expense
  31. 31.True or false: “a card order paid” is an expense (money out). (a) False (b) True
  32. 32.📒 Income or expense: paying the stall fee? (a) expense (b) income
  33. 33.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (transport)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
  34. 34.Tara’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹260 (paper cups)
    How much is the loss (in ₹)?
  35. 35.Riya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹160 (posters)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
  36. 36.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
  37. 37.Diya’s stall took in ₹240 on Friday, ₹370 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
  38. 38.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
  39. 39.Meera’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
  40. 40.True or false: “a card order paid” is income (money in). (a) False (b) True

Answer key

  1. False
  2. True
  3. True
  4. 560
  5. expense
  6. to know the real profit
  7. 210
  8. False
  9. income
  10. 80
  11. money from sales
  12. 50
  13. 230
  14. tutoring fees received
  15. payment for a cake order
  16. cash from selling plants
  17. 430
  18. expense
  19. 480
  20. 90
  21. False
  22. a card order paid
  23. 60
  24. 810
  25. 90
  26. buying lemons
  27. 40
  28. 40
  29. 10
  30. income
  31. False
  32. expense
  33. 50
  34. 50
  35. 70
  36. False
  37. 670
  38. True
  39. 20
  40. True

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