Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 720 · 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.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) a card order paid
2. 2.Nisha’s stall took in ₹130 on Friday, ₹280 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
3. 3.📒 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
4. 4.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
5. 5.Zoya’s income was ₹490 and the profit was ₹190. One expense was ₹30 (stall fee). How much was the other expense, for paper cups (in ₹)?
6. 6.📒 Income or expense: paying the stall fee? (a) income (b) expense
7. 7.True or false: “printing posters” is an expense (money out). (a) True (b) False
8. 8.Meera’s stall took in ₹310 on Friday, ₹60 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “bus fare to the market” is income (money in). (a) False (b) True
10. 10.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
11. 11.📒 Income or expense: printing posters? (a) income (b) expense
12. 12.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
13. 13.Riya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) buying lemons
16. 16.Zoya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
17. 17.True or false: “buying lemons” is an expense (money out). (a) False (b) True
18. 18.Saanvi’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) tutoring fees received (d) paying the stall fee
21. 21.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) tutoring fees received (d) payment for a cake order
22. 22.True or false: “money from sales” is an expense (money out). (a) True (b) False
23. 23.Dev’s stall took in ₹100 on Friday, ₹290 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
24. 24.Ishaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
25. 25.Rohan’s stall took in ₹60 on Friday, ₹220 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) paying the stall fee (d) buying lemons
27. 27.Joseph’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: buying lemons? (a) expense (b) income
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) payment for a cake order
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) payment for a cake order (d) money from sales
31. 31.Nisha’s stall took in ₹270 on Friday, ₹120 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
32. 32.Gurpreet’s record for the day:
    Income: ₹530 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
33. 33.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
34. 34.Gurpreet’s stall took in ₹270 on Friday, ₹180 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
35. 35.Joseph’s income was ₹210 and the profit was ₹160. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹140 (posters)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
37. 37.Nisha’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
38. 38.Lakshmi’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
39. 39.Dev’s income was ₹350 and the profit was ₹10. One expense was ₹240 (stall fee). How much was the other expense, for posters (in ₹)?
40. 40.Aarav’s income was ₹310 and the profit was ₹170. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?

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