Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 547 · 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) bus fare to the market (b) printing posters (c) payment for a cake order (d) buying lemons
2. 2.Riya’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹470 (evening sales)
   Expense: ₹180 (card paper)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
3. 3.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
4. 4.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
6. 6.Vihaan’s stall took in ₹190 on Friday, ₹270 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) tutoring fees received (d) bus fare to the market
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) payment for a cake order (d) cash from selling plants
9. 9.Gurpreet’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹160 (transport)
   Expense: ₹60 (sugar)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: buying lemons? (a) expense (b) income
11. 11.Rohan’s income was ₹290 and the profit was ₹50. One expense was ₹40 (paper cups). How much was the other expense, for ribbon (in ₹)?
12. 12.📒 Income or expense: buying paper cups? (a) expense (b) income
13. 13.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) printing posters (d) a card order paid
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying paper cups (d) payment for a cake order
15. 15.True or false: “printing posters” is an expense (money out). (a) False (b) True
16. 16.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
17. 17.Tara’s income was ₹340 and the profit was ₹100. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
18. 18.Meera’s income was ₹360 and the profit was ₹230. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
19. 19.Vihaan’s income was ₹140 and the profit was ₹70. One expense was ₹20 (posters). How much was the other expense, for lemons (in ₹)?
20. 20.True or false: “money from sales” is an expense (money out). (a) False (b) True
21. 21.Aarav’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
22. 22.True or false: “buying paper cups” is income (money in). (a) False (b) True
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
24. 24.Zoya’s income was ₹270 and the profit was ₹140. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
25. 25.Kavya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
26. 26.Joseph’s income was ₹380 and the profit was ₹360. One expense was ₹10 (posters). How much was the other expense, for transport (in ₹)?
27. 27.📒 Income or expense: paying the stall fee? (a) income (b) expense
28. 28.Aarav’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: a card order paid? (a) expense (b) income
30. 30.Riya’s stall took in ₹310 on Friday, ₹80 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
31. 31.Tara’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) cash from selling plants (d) bus fare to the market
33. 33.Lakshmi’s income was ₹230 and the profit was ₹80. One expense was ₹40 (card paper). How much was the other expense, for ribbon (in ₹)?
34. 34.Diya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹220 (card paper)
    How much is the loss (in ₹)?
35. 35.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) money from sales
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) buying lemons
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (posters)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
39. 39.Kabir’s stall took in ₹320 on Friday, ₹110 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “buying paper cups” is an expense (money out). (a) True (b) False

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