Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 533 · 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: “cash from selling plants” is an expense (money out). (a) False (b) True
2. 2.Riya’s stall took in ₹130 on Friday, ₹60 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
3. 3.Arjun’s income was ₹300 and the profit was ₹50. One expense was ₹90 (paper cups). How much was the other expense, for posters (in ₹)?
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) tutoring fees received
5. 5.Kavya’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹190 (stall fee)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
6. 6.True or false: “printing posters” is income (money in). (a) True (b) False
7. 7.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
8. 8.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
10. 10.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
11. 11.Vihaan’s stall took in ₹110 on Friday, ₹150 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.Tara’s stall took in ₹150 on Friday, ₹220 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) bus fare to the market (d) tutoring fees received
16. 16.Meera’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: buying lemons? (a) expense (b) income
18. 18.Zoya’s stall took in ₹100 on Friday, ₹130 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
19. 19.Dev’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹190 (transport)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
20. 20.True or false: “tutoring fees received” is income (money in). (a) True (b) False
21. 21.True or false: “a card order paid” is an expense (money out). (a) True (b) False
22. 22.Nisha’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
23. 23.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) printing posters
24. 24.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
25. 25.Meera’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (transport)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
26. 26.Kabir’s stall took in ₹330 on Friday, ₹390 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
27. 27.Joseph’s income was ₹380 and the profit was ₹220. One expense was ₹30 (ribbon). How much was the other expense, for paper cups (in ₹)?
28. 28.📒 Income or expense: paying the stall fee? (a) income (b) expense
29. 29.Which of these is income (money in)? (a) money from sales (b) printing posters (c) bus fare to the market (d) buying lemons
30. 30.Ananya’s stall took in ₹80 on Friday, ₹110 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: money from sales? (a) income (b) expense
32. 32.📒 Income or expense: tutoring fees received? (a) income (b) expense
33. 33.Vihaan’s stall took in ₹230 on Friday, ₹390 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
34. 34.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
35. 35.Diya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
36. 36.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying lemons (d) cash from selling plants
37. 37.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) tutoring fees received (d) payment for a cake order
38. 38.Ananya’s income was ₹430 and the profit was ₹410. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
39. 39.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹150 (transport)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
40. 40.Farhan’s income was ₹460 and the profit was ₹120. One expense was ₹260 (stall fee). How much was the other expense, for ribbon (in ₹)?

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