Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 618 · 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.📒 Income or expense: cash from selling plants? (a) expense (b) income
2. 2.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
3. 3.📒 Income or expense: tutoring fees received? (a) expense (b) income
4. 4.Ishaan’s income was ₹400 and the profit was ₹290. One expense was ₹70 (lemons). How much was the other expense, for paper cups (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) money from sales
6. 6.Meera’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹180 (sugar)
   Expense: ₹120 (lemons)
   What is the profit (in ₹)?
7. 7.Arjun’s income was ₹160 and the profit was ₹20. One expense was ₹70 (transport). How much was the other expense, for lemons (in ₹)?
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.Ananya’s income was ₹390 and the profit was ₹200. One expense was ₹120 (transport). How much was the other expense, for paper cups (in ₹)?
10. 10.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) bus fare to the market (d) money from sales
12. 12.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
13. 13.📒 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
14. 14.Meera’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
15. 15.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
16. 16.Rohan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
17. 17.Rohan’s stall took in ₹210 on Friday, ₹280 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
18. 18.Joseph’s stall took in ₹200 on Friday, ₹400 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
19. 19.Farhan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
20. 20.Aarav’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
21. 21.Meera’s income was ₹210 and the profit was ₹110. One expense was ₹40 (posters). How much was the other expense, for stall fee (in ₹)?
22. 22.📒 Income or expense: buying paper cups? (a) expense (b) income
23. 23.Riya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: buying lemons? (a) income (b) expense
25. 25.True or false: “bus fare to the market” is income (money in). (a) True (b) False
26. 26.Joseph’s income was ₹210 and the profit was ₹120. One expense was ₹40 (card paper). How much was the other expense, for stall fee (in ₹)?
27. 27.📒 Income or expense: bus fare to the market? (a) income (b) expense
28. 28.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) printing posters (d) payment for a cake order
29. 29.Joseph’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
30. 30.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) tutoring fees received (d) money from sales
31. 31.True or false: “money from sales” is an expense (money out). (a) False (b) True
32. 32.True or false: “printing posters” is an expense (money out). (a) True (b) False
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) tutoring fees received (d) a card order paid
34. 34.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
35. 35.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) printing posters (d) bus fare to the market
36. 36.Gurpreet’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
37. 37.Ananya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
38. 38.Diya’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
39. 39.True or false: “printing posters” is income (money in). (a) True (b) False
40. 40.Kabir’s stall took in ₹300 on Friday, ₹220 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?

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