Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 554 · 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.Tara’s stall took in ₹80 on Friday, ₹130 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
2. 2.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
4. 4.True or false: “printing posters” is an expense (money out). (a) False (b) True
5. 5.Tara’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹190 (ribbon)
   Expense: ₹80 (transport)
   How much is the loss (in ₹)?
6. 6.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
7. 7.📒 Income or expense: buying paper cups? (a) income (b) expense
8. 8.Diya’s stall took in ₹370 on Friday, ₹360 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
9. 9.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
10. 10.Farhan’s stall took in ₹200 on Friday, ₹200 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
11. 11.📒 Income or expense: buying lemons? (a) expense (b) income
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.📒 Income or expense: payment for a cake order? (a) expense (b) income
14. 14.Riya’s stall took in ₹280 on Friday, ₹170 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
15. 15.Kabir’s income was ₹450 and the profit was ₹260. One expense was ₹50 (sugar). How much was the other expense, for posters (in ₹)?
16. 16.Ananya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
17. 17.True or false: “buying lemons” is income (money in). (a) True (b) False
18. 18.Kavya’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
19. 19.True or false: “printing posters” is income (money in). (a) False (b) True
20. 20.Farhan’s income was ₹290 and the profit was ₹160. One expense was ₹20 (lemons). How much was the other expense, for ribbon (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.True or false: “a card order paid” is an expense (money out). (a) True (b) False
23. 23.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) paying the stall fee
24. 24.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) cash from selling plants (d) tutoring fees received
25. 25.📒 Income or expense: paying the stall fee? (a) income (b) expense
26. 26.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
27. 27.Joseph’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying paper cups (d) bus fare to the market
29. 29.📒 Income or expense: printing posters? (a) income (b) expense
30. 30.Kavya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
31. 31.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
32. 32.True or false: “a card order paid” is income (money in). (a) True (b) False
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.📒 Income or expense: money from sales? (a) expense (b) income
35. 35.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
36. 36.Zoya’s income was ₹190 and the profit was ₹100. One expense was ₹60 (sugar). How much was the other expense, for paper cups (in ₹)?
37. 37.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: a card order paid? (a) expense (b) income
39. 39.Kabir’s income was ₹450 and the profit was ₹260. One expense was ₹130 (paper cups). How much was the other expense, for posters (in ₹)?
40. 40.Lakshmi’s income was ₹180 and the profit was ₹70. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?

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