Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 524 · 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.Zoya’s stall took in ₹170 on Friday, ₹110 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: bus fare to the market? (a) income (b) expense
3. 3.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) tutoring fees received (d) cash from selling plants
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
5. 5.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
6. 6.True or false: “printing posters” is income (money in). (a) True (b) False
7. 7.True or false: “a card order paid” is an expense (money out). (a) True (b) False
8. 8.📒 Income or expense: cash from selling plants? (a) income (b) expense
9. 9.Rohan’s stall took in ₹70 on Friday, ₹380 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
10. 10.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) a card order paid (d) paying the stall fee
12. 12.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) bus fare to the market (d) cash from selling plants
13. 13.Vihaan’s stall took in ₹120 on Friday, ₹320 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: money from sales? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) bus fare to the market (d) buying lemons
16. 16.Saanvi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) income (b) expense
18. 18.Gurpreet’s stall took in ₹350 on Friday, ₹190 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: a card order paid? (a) expense (b) income
20. 20.Riya’s stall took in ₹130 on Friday, ₹340 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
21. 21.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
22. 22.Gurpreet’s income was ₹430 and the profit was ₹410. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?
23. 23.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) money from sales (d) printing posters
24. 24.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: paying the stall fee? (a) expense (b) income
26. 26.Kabir’s income was ₹310 and the profit was ₹10. One expense was ₹270 (card paper). How much was the other expense, for ribbon (in ₹)?
27. 27.True or false: “paying the stall fee” is income (money in). (a) True (b) False
28. 28.Vihaan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) buying paper cups
30. 30.True or false: “money from sales” is an expense (money out). (a) False (b) True
31. 31.Kabir’s income was ₹320 and the profit was ₹190. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
32. 32.True or false: “tutoring fees received” is income (money in). (a) False (b) True
33. 33.Diya’s stall took in ₹90 on Friday, ₹80 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
34. 34.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) money from sales (d) bus fare to the market
36. 36.True or false: “payment for a cake order” is income (money in). (a) False (b) True
37. 37.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹20 (posters)
    Expense: ₹230 (card paper)
    How much is the loss (in ₹)?
38. 38.Gurpreet’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
39. 39.True or false: “buying lemons” is an expense (money out). (a) False (b) True
40. 40.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False

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