Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 677 · 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.Diya’s stall took in ₹160 on Friday, ₹110 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “cash from selling plants” is income (money in). (a) False (b) True
3. 3.Saanvi’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹100 (paper cups)
   Expense: ₹30 (transport)
   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.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) paying the stall fee (d) printing posters
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) a card order paid (d) payment for a cake order
8. 8.📒 Income or expense: payment for a cake order? (a) income (b) expense
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
10. 10.Kabir’s stall took in ₹310 on Friday, ₹380 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) money from sales (d) buying paper cups
12. 12.Gurpreet’s income was ₹470 and the profit was ₹400. One expense was ₹10 (ribbon). How much was the other expense, for posters (in ₹)?
13. 13.Nisha’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
15. 15.True or false: “a card order paid” is an expense (money out). (a) False (b) True
16. 16.Nisha’s income was ₹470 and the profit was ₹70. One expense was ₹60 (transport). How much was the other expense, for posters (in ₹)?
17. 17.Nisha’s stall took in ₹100 on Friday, ₹160 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “buying lemons” is an expense (money out). (a) True (b) False
19. 19.Gurpreet’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
20. 20.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) a card order paid
21. 21.📒 Income or expense: buying paper cups? (a) expense (b) income
22. 22.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (transport)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
23. 23.True or false: “a card order paid” is income (money in). (a) True (b) False
24. 24.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.Ananya’s income was ₹260 and the profit was ₹220. One expense was ₹30 (sugar). How much was the other expense, for stall fee (in ₹)?
27. 27.True or false: “paying the stall fee” is income (money in). (a) True (b) False
28. 28.📒 Income or expense: printing posters? (a) expense (b) income
29. 29.Kavya’s stall took in ₹80 on Friday, ₹260 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
30. 30.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
31. 31.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) buying lemons
32. 32.📒 Income or expense: paying the stall fee? (a) income (b) expense
33. 33.📒 Income or expense: a card order paid? (a) expense (b) income
34. 34.Nisha’s income was ₹160 and the profit was ₹20. One expense was ₹60 (lemons). How much was the other expense, for stall fee (in ₹)?
35. 35.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
36. 36.Ishaan’s income was ₹250 and the profit was ₹20. One expense was ₹30 (sugar). How much was the other expense, for posters (in ₹)?
37. 37.True or false: “buying paper cups” is income (money in). (a) True (b) False
38. 38.Aarav’s stall took in ₹260 on Friday, ₹390 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
39. 39.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
40. 40.Dev’s stall took in ₹110 on Friday, ₹400 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?

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