Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 687 · 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.Zoya’s stall took in ₹160 on Friday, ₹120 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) buying paper cups (d) a card order paid
3. 3.Ananya’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹200 (stall fee)
   Expense: ₹170 (posters)
   What is the profit (in ₹)?
4. 4.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) printing posters
5. 5.Aarav’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹110 (lemons)
   Expense: ₹90 (stall fee)
   What is the profit (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
7. 7.Zoya’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹70 (ribbon)
   Expense: ₹220 (paper cups)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: buying paper cups? (a) expense (b) income
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.True or false: “tutoring fees received” is income (money in). (a) False (b) True
11. 11.Zoya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (transport)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.Joseph’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹190 (card paper)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: payment for a cake order? (a) expense (b) income
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.Saanvi’s income was ₹350 and the profit was ₹170. One expense was ₹70 (lemons). How much was the other expense, for ribbon (in ₹)?
18. 18.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
19. 19.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
20. 20.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
21. 21.Farhan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: paying the stall fee? (a) expense (b) income
23. 23.Nisha’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
25. 25.True or false: “payment for a cake order” is income (money in). (a) False (b) True
26. 26.Farhan’s stall took in ₹50 on Friday, ₹80 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) a card order paid (d) tutoring fees received
28. 28.Ananya’s stall took in ₹280 on Friday, ₹210 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) paying the stall fee (d) a card order paid
30. 30.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
31. 31.Aarav’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹210 (posters)
    How much is the loss (in ₹)?
32. 32.True or false: “bus fare to the market” is income (money in). (a) False (b) True
33. 33.Zoya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
34. 34.True or false: “a card order paid” is an expense (money out). (a) True (b) False
35. 35.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) tutoring fees received
36. 36.True or false: “paying the stall fee” is income (money in). (a) True (b) False
37. 37.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) payment for a cake order
38. 38.True or false: “a card order paid” is income (money in). (a) True (b) False
39. 39.Kavya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
40. 40.True or false: “printing posters” is an expense (money out). (a) False (b) True

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