Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 587 · 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) payment for a cake order (b) buying lemons (c) printing posters (d) paying the stall fee
2. 2.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
3. 3.Zoya’s income was ₹270 and the profit was ₹120. One expense was ₹50 (lemons). How much was the other expense, for stall fee (in ₹)?
4. 4.Kabir’s income was ₹290 and the profit was ₹40. One expense was ₹130 (posters). How much was the other expense, for card paper (in ₹)?
5. 5.Rohan’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹170 (sugar)
   Expense: ₹50 (transport)
   What is the profit (in ₹)?
6. 6.True or false: “tutoring fees received” is income (money in). (a) False (b) True
7. 7.True or false: “printing posters” is income (money in). (a) False (b) True
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
10. 10.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
11. 11.True or false: “payment for a cake order” is income (money in). (a) False (b) True
12. 12.True or false: “buying lemons” is an expense (money out). (a) True (b) False
13. 13.Arjun’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹230 (transport)
    How much is the loss (in ₹)?
14. 14.Joseph’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
15. 15.Vihaan’s stall took in ₹230 on Friday, ₹360 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
16. 16.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) tutoring fees received (d) paying the stall fee
17. 17.Dev’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) money from sales (d) tutoring fees received
19. 19.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) cash from selling plants (d) money from sales
20. 20.True or false: “paying the stall fee” is income (money in). (a) False (b) True
21. 21.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
22. 22.Saanvi’s income was ₹210 and the profit was ₹110. One expense was ₹90 (lemons). How much was the other expense, for card paper (in ₹)?
23. 23.📒 Income or expense: money from sales? (a) income (b) expense
24. 24.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
25. 25.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
26. 26.Aarav’s stall took in ₹140 on Friday, ₹190 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
27. 27.Diya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹180 (transport)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) buying lemons
29. 29.True or false: “buying lemons” is income (money in). (a) False (b) True
30. 30.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) tutoring fees received (d) money from sales
31. 31.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying lemons (d) buying paper cups
32. 32.Nisha’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
33. 33.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
34. 34.Tara’s stall took in ₹90 on Friday, ₹50 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
35. 35.Aarav’s stall took in ₹370 on Friday, ₹120 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
36. 36.Aarav’s stall took in ₹150 on Friday, ₹270 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
37. 37.Vihaan’s stall took in ₹70 on Friday, ₹380 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
38. 38.Aarav’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
39. 39.Lakshmi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) cash from selling plants (d) bus fare to the market

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