Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 697 · 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.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
2. 2.📒 Income or expense: payment for a cake order? (a) income (b) expense
3. 3.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
4. 4.True or false: “a card order paid” is income (money in). (a) False (b) True
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) bus fare to the market
6. 6.📒 Income or expense: paying the stall fee? (a) expense (b) income
7. 7.True or false: “cash from selling plants” is income (money in). (a) True (b) False
8. 8.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
9. 9.Kabir’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹120 (stall fee)
   Expense: ₹90 (sugar)
   What is the profit (in ₹)?
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) a card order paid (d) printing posters
11. 11.True or false: “printing posters” is an expense (money out). (a) False (b) True
12. 12.Aarav’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
13. 13.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) payment for a cake order (d) tutoring fees received
14. 14.Nisha’s income was ₹450 and the profit was ₹60. One expense was ₹280 (sugar). How much was the other expense, for transport (in ₹)?
15. 15.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
16. 16.True or false: “buying lemons” is an expense (money out). (a) True (b) False
17. 17.📒 Income or expense: money from sales? (a) income (b) expense
18. 18.📒 Income or expense: buying lemons? (a) expense (b) income
19. 19.True or false: “paying the stall fee” is income (money in). (a) True (b) False
20. 20.Kavya’s income was ₹230 and the profit was ₹130. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
21. 21.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) tutoring fees received
22. 22.📒 Income or expense: tutoring fees received? (a) expense (b) income
23. 23.Dev’s income was ₹470 and the profit was ₹440. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
24. 24.Ishaan’s income was ₹160 and the profit was ₹120. One expense was ₹30 (stall fee). How much was the other expense, for card paper (in ₹)?
25. 25.Dev’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) a card order paid
27. 27.True or false: “money from sales” is an expense (money out). (a) False (b) True
28. 28.Ananya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
29. 29.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹120 (transport)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
30. 30.Kavya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹130 (posters)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
31. 31.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) paying the stall fee
32. 32.📒 Income or expense: buying paper cups? (a) income (b) expense
33. 33.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹210 (ribbon)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
34. 34.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying paper cups (d) paying the stall fee
35. 35.Ananya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
36. 36.Vihaan’s stall took in ₹350 on Friday, ₹220 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
37. 37.Nisha’s income was ₹110 and the profit was ₹30. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
38. 38.Diya’s income was ₹190 and the profit was ₹50. One expense was ₹130 (paper cups). How much was the other expense, for posters (in ₹)?
39. 39.Gurpreet’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
40. 40.📒 Income or expense: bus fare to the market? (a) income (b) expense

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