Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 602 · 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) tutoring fees received (b) buying lemons (c) buying paper cups (d) printing posters
2. 2.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) buying paper cups
3. 3.Diya’s income was ₹400 and the profit was ₹100. One expense was ₹260 (posters). How much was the other expense, for lemons (in ₹)?
4. 4.📒 Income or expense: a card order paid? (a) income (b) expense
5. 5.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
6. 6.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) printing posters (d) money from sales
7. 7.Diya’s stall took in ₹280 on Friday, ₹160 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
9. 9.Joseph’s stall took in ₹190 on Friday, ₹210 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
10. 10.Zoya’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
11. 11.Farhan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹210 (card paper)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
12. 12.True or false: “payment for a cake order” is income (money in). (a) False (b) True
13. 13.True or false: “cash from selling plants” is income (money in). (a) False (b) True
14. 14.Meera’s stall took in ₹370 on Friday, ₹160 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
15. 15.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
16. 16.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
17. 17.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying lemons (d) bus fare to the market
18. 18.Dev’s income was ₹220 and the profit was ₹160. One expense was ₹20 (ribbon). How much was the other expense, for stall fee (in ₹)?
19. 19.Diya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: buying lemons? (a) expense (b) income
21. 21.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
22. 22.Riya’s stall took in ₹100 on Friday, ₹320 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
23. 23.Ishaan’s income was ₹400 and the profit was ₹30. One expense was ₹110 (paper cups). How much was the other expense, for lemons (in ₹)?
24. 24.Rohan’s stall took in ₹270 on Friday, ₹170 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) paying the stall fee (d) cash from selling plants
26. 26.Ananya’s stall took in ₹50 on Friday, ₹340 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.📒 Income or expense: paying the stall fee? (a) income (b) expense
29. 29.True or false: “buying lemons” is income (money in). (a) True (b) False
30. 30.Joseph’s income was ₹140 and the profit was ₹20. One expense was ₹20 (paper cups). How much was the other expense, for card paper (in ₹)?
31. 31.Joseph’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹250 (posters)
    How much is the loss (in ₹)?
33. 33.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
34. 34.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
35. 35.Arjun’s stall took in ₹210 on Friday, ₹90 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) bus fare to the market
37. 37.Rohan’s stall took in ₹230 on Friday, ₹260 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
39. 39.Diya’s stall took in ₹380 on Friday, ₹210 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
40. 40.Ishaan’s stall took in ₹380 on Friday, ₹310 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?

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