Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 6 · 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) money from sales (b) a card order paid (c) payment for a cake order (d) buying paper cups
2. 2.📒 Income or expense: paying the stall fee? (a) income (b) expense
3. 3.Rohan’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹120 (lemons)
   Expense: ₹30 (ribbon)
   How much is the loss (in ₹)?
4. 4.Joseph’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
5. 5.Meera’s income was ₹190 and the profit was ₹120. One expense was ₹20 (lemons). How much was the other expense, for posters (in ₹)?
6. 6.True or false: “money from sales” is income (money in). (a) False (b) True
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) money from sales (d) printing posters
8. 8.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) a card order paid (d) printing posters
9. 9.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
10. 10.Lakshmi’s stall took in ₹120 on Friday, ₹120 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) cash from selling plants
12. 12.Tara’s income was ₹240 and the profit was ₹180. One expense was ₹50 (card paper). How much was the other expense, for transport (in ₹)?
13. 13.Nisha’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹190 (posters)
    How much is the loss (in ₹)?
14. 14.True or false: “buying lemons” is income (money in). (a) False (b) True
15. 15.Joseph’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
16. 16.Diya’s income was ₹240 and the profit was ₹190. One expense was ₹20 (stall fee). How much was the other expense, for paper cups (in ₹)?
17. 17.True or false: “a card order paid” is income (money in). (a) False (b) True
18. 18.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
19. 19.📒 Income or expense: tutoring fees received? (a) expense (b) income
20. 20.📒 Income or expense: buying paper cups? (a) income (b) expense
21. 21.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
22. 22.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) money from sales (d) payment for a cake order
23. 23.📒 Income or expense: money from sales? (a) income (b) expense
24. 24.Zoya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
25. 25.Lakshmi’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
26. 26.Tara’s income was ₹300 and the profit was ₹240. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
28. 28.Aarav’s income was ₹110 and the profit was ₹10. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
29. 29.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
30. 30.📒 Income or expense: bus fare to the market? (a) expense (b) income
31. 31.Kabir’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: a card order paid? (a) expense (b) income
33. 33.Meera’s income was ₹240 and the profit was ₹210. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
34. 34.True or false: “printing posters” is income (money in). (a) True (b) False
35. 35.Diya’s stall took in ₹60 on Friday, ₹60 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
36. 36.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
37. 37.Arjun’s stall took in ₹150 on Friday, ₹160 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
38. 38.Meera’s income was ₹220 and the profit was ₹160. One expense was ₹50 (lemons). How much was the other expense, for stall fee (in ₹)?
39. 39.Ishaan’s income was ₹330 and the profit was ₹70. One expense was ₹170 (posters). How much was the other expense, for lemons (in ₹)?
40. 40.Ananya’s income was ₹340 and the profit was ₹130. One expense was ₹180 (sugar). How much was the other expense, for posters (in ₹)?

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