Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 551 · 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: “printing posters” is an expense (money out). (a) True (b) False
2. 2.Kavya’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹130 (paper cups)
   What is the profit (in ₹)?
3. 3.Zoya’s stall took in ₹300 on Friday, ₹270 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
4. 4.Arjun’s stall took in ₹220 on Friday, ₹230 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
5. 5.Diya’s stall took in ₹100 on Friday, ₹330 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “a card order paid” is income (money in). (a) False (b) True
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) bus fare to the market
9. 9.Kabir’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹60 (card paper)
   Expense: ₹60 (paper cups)
   How much is the loss (in ₹)?
10. 10.Nisha’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) buying lemons (d) tutoring fees received
12. 12.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
13. 13.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
14. 14.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
15. 15.True or false: “cash from selling plants” is income (money in). (a) True (b) False
16. 16.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) tutoring fees received
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
19. 19.True or false: “buying lemons” is income (money in). (a) True (b) False
20. 20.Tara’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
23. 23.Nisha’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
25. 25.Aarav’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
26. 26.Tara’s stall took in ₹380 on Friday, ₹400 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
27. 27.Meera’s income was ₹290 and the profit was ₹50. One expense was ₹20 (sugar). How much was the other expense, for ribbon (in ₹)?
28. 28.📒 Income or expense: printing posters? (a) income (b) expense
29. 29.Aarav’s income was ₹400 and the profit was ₹360. One expense was ₹20 (ribbon). How much was the other expense, for transport (in ₹)?
30. 30.📒 Income or expense: money from sales? (a) expense (b) income
31. 31.Nisha’s stall took in ₹360 on Friday, ₹180 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) printing posters (d) cash from selling plants
33. 33.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
34. 34.Aarav’s income was ₹130 and the profit was ₹30. One expense was ₹10 (posters). How much was the other expense, for ribbon (in ₹)?
35. 35.Nisha’s income was ₹240 and the profit was ₹120. One expense was ₹90 (lemons). How much was the other expense, for posters (in ₹)?
36. 36.Vihaan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹100 (stall fee)
    How much is the loss (in ₹)?
37. 37.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
38. 38.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) bus fare to the market (d) a card order paid
39. 39.Arjun’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) buying paper cups

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