Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 746 · 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.📒 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
2. 2.True or false: “buying lemons” is an expense (money out). (a) True (b) False
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
4. 4.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) buying lemons (d) printing posters
5. 5.True or false: “bus fare to the market” is income (money in). (a) True (b) False
6. 6.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying lemons (d) buying paper cups
7. 7.📒 Income or expense: buying lemons? (a) income (b) expense
8. 8.📒 Income or expense: buying paper cups? (a) expense (b) income
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.📒 Income or expense: paying the stall fee? (a) income (b) expense
11. 11.Tara’s stall took in ₹140 on Friday, ₹220 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
12. 12.Ishaan’s stall took in ₹330 on Friday, ₹60 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
13. 13.Zoya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹250 (sugar)
    How much is the loss (in ₹)?
14. 14.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) money from sales (d) cash from selling plants
15. 15.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
16. 16.Ananya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) a card order paid (d) payment for a cake order
18. 18.Joseph’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
19. 19.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) money from sales
20. 20.📒 Income or expense: bus fare to the market? (a) income (b) expense
21. 21.Lakshmi’s income was ₹230 and the profit was ₹190. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
22. 22.Vihaan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹290 (paper cups)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
23. 23.Rohan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
24. 24.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
25. 25.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) tutoring fees received (d) payment for a cake order
26. 26.Aarav’s stall took in ₹100 on Friday, ₹130 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
27. 27.Zoya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
28. 28.True or false: “money from sales” is an expense (money out). (a) False (b) True
29. 29.Ishaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
30. 30.Dev’s stall took in ₹240 on Friday, ₹370 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
31. 31.Ishaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
32. 32.Ananya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
33. 33.Kabir’s stall took in ₹50 on Friday, ₹60 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s stall took in ₹50 on Friday, ₹120 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
35. 35.Gurpreet’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) False (b) True
37. 37.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
38. 38.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) paying the stall fee
39. 39.True or false: “printing posters” is an expense (money out). (a) True (b) False
40. 40.True or false: “a card order paid” is an expense (money out). (a) True (b) False

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