Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 611 · 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.True or false: “buying lemons” is an expense (money out). (a) True (b) False
2. 2.📒 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
3. 3.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) cash from selling plants (d) a card order paid
4. 4.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) payment for a cake order
5. 5.True or false: “buying paper cups” is income (money in). (a) True (b) False
6. 6.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
7. 7.True or false: “tutoring fees received” is income (money in). (a) False (b) True
8. 8.True or false: “a card order paid” is an expense (money out). (a) True (b) False
9. 9.Rohan’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹30 (card paper)
   Expense: ₹40 (sugar)
   How much is the loss (in ₹)?
10. 10.Kavya’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
11. 11.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
12. 12.Riya’s income was ₹420 and the profit was ₹400. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
13. 13.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
14. 14.Riya’s stall took in ₹350 on Friday, ₹280 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) bus fare to the market
16. 16.True or false: “bus fare to the market” is income (money in). (a) False (b) True
17. 17.Tara’s stall took in ₹70 on Friday, ₹90 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
18. 18.Riya’s stall took in ₹220 on Friday, ₹370 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
19. 19.Farhan’s stall took in ₹320 on Friday, ₹210 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
20. 20.Riya’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
21. 21.Gurpreet’s income was ₹270 and the profit was ₹200. One expense was ₹60 (sugar). How much was the other expense, for transport (in ₹)?
22. 22.📒 Income or expense: printing posters? (a) income (b) expense
23. 23.📒 Income or expense: bus fare to the market? (a) income (b) expense
24. 24.Lakshmi’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹230 (ribbon)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
25. 25.Saanvi’s income was ₹360 and the profit was ₹10. One expense was ₹340 (card paper). How much was the other expense, for posters (in ₹)?
26. 26.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) buying lemons (d) printing posters
27. 27.Tara’s income was ₹190 and the profit was ₹30. One expense was ₹60 (posters). How much was the other expense, for stall fee (in ₹)?
28. 28.Farhan’s stall took in ₹200 on Friday, ₹300 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
29. 29.Kavya’s income was ₹430 and the profit was ₹90. One expense was ₹70 (ribbon). How much was the other expense, for posters (in ₹)?
30. 30.True or false: “cash from selling plants” is income (money in). (a) True (b) False
31. 31.📒 Income or expense: payment for a cake order? (a) income (b) expense
32. 32.📒 Income or expense: money from sales? (a) income (b) expense
33. 33.📒 Income or expense: buying paper cups? (a) income (b) expense
34. 34.📒 Income or expense: cash from selling plants? (a) income (b) expense
35. 35.Aarav’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
36. 36.Joseph’s stall took in ₹80 on Friday, ₹100 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
37. 37.Vihaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹100 (posters)
    Expense: ₹170 (lemons)
    How much is the loss (in ₹)?
38. 38.Gurpreet’s income was ₹240 and the profit was ₹70. One expense was ₹80 (stall fee). How much was the other expense, for sugar (in ₹)?
39. 39.Joseph’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: a card order paid? (a) income (b) expense

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