Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 581 · 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) buying lemons (c) buying paper cups (d) money from sales
2. 2.📒 Income or expense: printing posters? (a) expense (b) income
3. 3.True or false: “tutoring fees received” is income (money in). (a) False (b) True
4. 4.True or false: “a card order paid” is income (money in). (a) True (b) False
5. 5.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) bus fare to the market (d) buying lemons
6. 6.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) paying the stall fee
8. 8.Diya’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹130 (ribbon)
   Expense: ₹60 (paper cups)
   How much is the loss (in ₹)?
9. 9.Vihaan’s stall took in ₹70 on Friday, ₹370 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
10. 10.Kavya’s stall took in ₹350 on Friday, ₹360 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
11. 11.Aarav’s stall took in ₹280 on Friday, ₹110 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
13. 13.Meera’s income was ₹460 and the profit was ₹420. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
14. 14.Aarav’s income was ₹220 and the profit was ₹170. One expense was ₹10 (paper cups). How much was the other expense, for lemons (in ₹)?
15. 15.Nisha’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: buying paper cups? (a) income (b) expense
17. 17.Aarav’s stall took in ₹80 on Friday, ₹200 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
18. 18.Kabir’s stall took in ₹240 on Friday, ₹320 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
19. 19.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
20. 20.Joseph’s income was ₹100 and the profit was ₹30. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
21. 21.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
22. 22.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) buying paper cups
23. 23.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) payment for a cake order
24. 24.Joseph’s income was ₹150 and the profit was ₹60. One expense was ₹70 (lemons). How much was the other expense, for transport (in ₹)?
25. 25.Riya’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
26. 26.Meera’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
27. 27.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
28. 28.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
29. 29.True or false: “printing posters” is an expense (money out). (a) False (b) True
30. 30.Aarav’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹210 (posters)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
31. 31.Zoya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
32. 32.Joseph’s stall took in ₹260 on Friday, ₹150 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: payment for a cake order? (a) expense (b) income
34. 34.Farhan’s stall took in ₹250 on Friday, ₹230 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
35. 35.Saanvi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
36. 36.True or false: “cash from selling plants” is income (money in). (a) True (b) False
37. 37.📒 Income or expense: cash from selling plants? (a) income (b) expense
38. 38.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
39. 39.Nisha’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
40. 40.True or false: “bus fare to the market” is income (money in). (a) False (b) True

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