Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 590 · 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 an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying lemons (d) cash from selling plants
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) printing posters (d) tutoring fees received
3. 3.Zoya’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹220 (lemons)
   Expense: ₹130 (card paper)
   How much is the loss (in ₹)?
4. 4.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
5. 5.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
6. 6.Gurpreet’s income was ₹230 and the profit was ₹30. One expense was ₹160 (sugar). How much was the other expense, for stall fee (in ₹)?
7. 7.Tara’s income was ₹240 and the profit was ₹120. One expense was ₹90 (posters). How much was the other expense, for transport (in ₹)?
8. 8.Meera’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹120 (paper cups)
   Expense: ₹170 (stall fee)
   What is the profit (in ₹)?
9. 9.Dev’s stall took in ₹120 on Friday, ₹260 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
11. 11.True or false: “printing posters” is an expense (money out). (a) False (b) True
12. 12.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) cash from selling plants (d) payment for a cake order
13. 13.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
14. 14.📒 Income or expense: payment for a cake order? (a) income (b) expense
15. 15.Rohan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
16. 16.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying lemons (d) printing posters
17. 17.📒 Income or expense: paying the stall fee? (a) expense (b) income
18. 18.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
20. 20.Rohan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹30 (posters)
    Expense: ₹360 (stall fee)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: tutoring fees received? (a) expense (b) income
22. 22.Dev’s stall took in ₹400 on Friday, ₹390 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “tutoring fees received” is income (money in). (a) True (b) False
24. 24.Zoya’s stall took in ₹350 on Friday, ₹330 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
25. 25.Nisha’s stall took in ₹360 on Friday, ₹220 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) paying the stall fee (d) cash from selling plants
27. 27.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) money from sales (d) paying the stall fee
28. 28.📒 Income or expense: buying paper cups? (a) expense (b) income
29. 29.Saanvi’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: buying lemons? (a) expense (b) income
31. 31.Farhan’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
32. 32.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹130 (transport)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: a card order paid? (a) expense (b) income
34. 34.True or false: “money from sales” is an expense (money out). (a) True (b) False
35. 35.Ananya’s stall took in ₹90 on Friday, ₹170 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
36. 36.Aarav’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
37. 37.True or false: “payment for a cake order” is income (money in). (a) False (b) True
38. 38.Aarav’s stall took in ₹50 on Friday, ₹280 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
39. 39.Tara’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False

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