Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 69 · 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: “paying the stall fee” is income (money in). (a) True (b) False
2. 2.📒 Income or expense: buying lemons? (a) income (b) expense
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
4. 4.Tara’s stall took in ₹90 on Friday, ₹400 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
5. 5.Joseph’s stall took in ₹80 on Friday, ₹310 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) money from sales (d) cash from selling plants
7. 7.📒 Income or expense: bus fare to the market? (a) expense (b) income
8. 8.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) paying the stall fee (d) buying paper cups
9. 9.📒 Income or expense: buying paper cups? (a) expense (b) income
10. 10.Farhan’s income was ₹370 and the profit was ₹10. One expense was ₹80 (transport). How much was the other expense, for lemons (in ₹)?
11. 11.Vihaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
12. 12.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) tutoring fees received (d) payment for a cake order
13. 13.Farhan’s stall took in ₹370 on Friday, ₹400 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: a card order paid? (a) expense (b) income
15. 15.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
16. 16.Aarav’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
17. 17.True or false: “bus fare to the market” is income (money in). (a) False (b) True
18. 18.Joseph’s income was ₹190 and the profit was ₹90. One expense was ₹10 (posters). How much was the other expense, for transport (in ₹)?
19. 19.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying paper cups (d) payment for a cake order
20. 20.Diya’s income was ₹500 and the profit was ₹310. One expense was ₹170 (card paper). How much was the other expense, for sugar (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) a card order paid (d) payment for a cake order
23. 23.Nisha’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
24. 24.Farhan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) cash from selling plants
26. 26.Lakshmi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
27. 27.Rohan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹340 (transport)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: cash from selling plants? (a) income (b) expense
29. 29.📒 Income or expense: money from sales? (a) income (b) expense
30. 30.Joseph’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹290 (paper cups)
    How much is the loss (in ₹)?
31. 31.Ananya’s record for the day:
    Income: ₹610 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
32. 32.Nisha’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: printing posters? (a) income (b) expense
34. 34.Diya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
35. 35.Zoya’s income was ₹280 and the profit was ₹100. One expense was ₹100 (transport). How much was the other expense, for paper cups (in ₹)?
36. 36.Rohan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
37. 37.Gurpreet’s income was ₹190 and the profit was ₹60. One expense was ₹40 (sugar). How much was the other expense, for paper cups (in ₹)?
38. 38.True or false: “printing posters” is income (money in). (a) True (b) False
39. 39.Diya’s income was ₹430 and the profit was ₹150. One expense was ₹220 (stall fee). How much was the other expense, for sugar (in ₹)?
40. 40.True or false: “a card order paid” is an expense (money out). (a) True (b) False

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