Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 748 · 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 an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying lemons (d) cash from selling plants
2. 2.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) tutoring fees received (d) buying lemons
4. 4.📒 Income or expense: paying the stall fee? (a) income (b) expense
5. 5.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
6. 6.True or false: “buying paper cups” is income (money in). (a) False (b) True
7. 7.Zoya’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹100 (sugar)
   Expense: ₹20 (lemons)
   How much is the loss (in ₹)?
8. 8.Kavya’s stall took in ₹210 on Friday, ₹120 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
9. 9.Farhan’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹10 (posters)
   Expense: ₹90 (paper cups)
   How much is the loss (in ₹)?
10. 10.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
11. 11.Lakshmi’s income was ₹110 and the profit was ₹40. One expense was ₹30 (lemons). How much was the other expense, for ribbon (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
15. 15.True or false: “printing posters” is income (money in). (a) True (b) False
16. 16.Dev’s stall took in ₹230 on Friday, ₹370 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
17. 17.Tara’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying paper cups (d) buying lemons
19. 19.📒 Income or expense: money from sales? (a) expense (b) income
20. 20.Saanvi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
21. 21.Kabir’s income was ₹340 and the profit was ₹10. One expense was ₹30 (stall fee). How much was the other expense, for lemons (in ₹)?
22. 22.Farhan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) tutoring fees received (d) payment for a cake order
24. 24.📒 Income or expense: printing posters? (a) income (b) expense
25. 25.Farhan’s income was ₹370 and the profit was ₹290. One expense was ₹60 (posters). How much was the other expense, for ribbon (in ₹)?
26. 26.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
27. 27.Kavya’s stall took in ₹250 on Friday, ₹60 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “a card order paid” is an expense (money out). (a) True (b) False
29. 29.Farhan’s income was ₹420 and the profit was ₹380. One expense was ₹20 (lemons). How much was the other expense, for paper cups (in ₹)?
30. 30.Dev’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
31. 31.True or false: “paying the stall fee” is income (money in). (a) True (b) False
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) cash from selling plants
33. 33.Lakshmi’s income was ₹460 and the profit was ₹130. One expense was ₹250 (lemons). How much was the other expense, for ribbon (in ₹)?
34. 34.📒 Income or expense: payment for a cake order? (a) income (b) expense
35. 35.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
36. 36.True or false: “tutoring fees received” is income (money in). (a) False (b) True
37. 37.Kavya’s income was ₹380 and the profit was ₹180. One expense was ₹140 (sugar). How much was the other expense, for paper cups (in ₹)?
38. 38.Ishaan’s income was ₹300 and the profit was ₹170. One expense was ₹50 (ribbon). How much was the other expense, for card paper (in ₹)?
39. 39.Tara’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
40. 40.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?

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