Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 53 · 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.True or false: “payment for a cake order” is income (money in). (a) False (b) True
2. 2.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) buying paper cups
3. 3.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
4. 4.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
5. 5.Saanvi’s income was ₹390 and the profit was ₹30. One expense was ₹230 (card paper). How much was the other expense, for paper cups (in ₹)?
6. 6.Saanvi’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹150 (posters)
   What is the profit (in ₹)?
7. 7.Kavya’s stall took in ₹260 on Friday, ₹70 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “buying lemons” is income (money in). (a) False (b) True
9. 9.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) a card order paid
10. 10.📒 Income or expense: tutoring fees received? (a) income (b) expense
11. 11.Zoya’s income was ₹380 and the profit was ₹200. One expense was ₹160 (transport). How much was the other expense, for ribbon (in ₹)?
12. 12.Kabir’s income was ₹130 and the profit was ₹20. One expense was ₹60 (sugar). How much was the other expense, for transport (in ₹)?
13. 13.Ishaan’s stall took in ₹210 on Friday, ₹250 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
14. 14.Vihaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
15. 15.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying lemons (d) cash from selling plants
16. 16.Gurpreet’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
17. 17.Saanvi’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
18. 18.Meera’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹260 (stall fee)
    How much is the loss (in ₹)?
19. 19.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
20. 20.Dev’s stall took in ₹310 on Friday, ₹280 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
23. 23.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
24. 24.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) money from sales (d) a card order paid
25. 25.Arjun’s income was ₹300 and the profit was ₹20. One expense was ₹200 (card paper). How much was the other expense, for sugar (in ₹)?
26. 26.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹190 (lemons)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: bus fare to the market? (a) expense (b) income
28. 28.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) buying paper cups (d) bus fare to the market
29. 29.📒 Income or expense: payment for a cake order? (a) income (b) expense
30. 30.True or false: “money from sales” is income (money in). (a) True (b) False
31. 31.📒 Income or expense: a card order paid? (a) income (b) expense
32. 32.Lakshmi’s stall took in ₹350 on Friday, ₹250 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
33. 33.Arjun’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
34. 34.Zoya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
35. 35.Farhan’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: printing posters? (a) income (b) expense
37. 37.Rohan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
38. 38.Riya’s stall took in ₹370 on Friday, ₹280 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
39. 39.Zoya’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: money from sales? (a) expense (b) income

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