Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 76 · 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: “a card order paid” is income (money in). (a) False (b) True
2. 2.Diya’s income was ₹430 and the profit was ₹260. One expense was ₹100 (sugar). How much was the other expense, for paper cups (in ₹)?
3. 3.Riya’s stall took in ₹120 on Friday, ₹140 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: payment for a cake order? (a) expense (b) income
5. 5.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) paying the stall fee (d) buying lemons
6. 6.Saanvi’s income was ₹170 and the profit was ₹20. One expense was ₹40 (sugar). How much was the other expense, for transport (in ₹)?
7. 7.Arjun’s income was ₹220 and the profit was ₹20. One expense was ₹40 (posters). How much was the other expense, for ribbon (in ₹)?
8. 8.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) cash from selling plants
9. 9.Ananya’s income was ₹260 and the profit was ₹20. One expense was ₹170 (lemons). How much was the other expense, for posters (in ₹)?
10. 10.Tara’s income was ₹290 and the profit was ₹30. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
11. 11.📒 Income or expense: bus fare to the market? (a) income (b) expense
12. 12.True or false: “buying paper cups” is income (money in). (a) True (b) False
13. 13.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
14. 14.Dev’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
15. 15.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
16. 16.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) money from sales (d) buying paper cups
17. 17.Farhan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹180 (lemons)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
18. 18.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
19. 19.True or false: “cash from selling plants” is income (money in). (a) False (b) True
20. 20.Saanvi’s stall took in ₹380 on Friday, ₹60 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) payment for a cake order (d) money from sales
22. 22.Kabir’s stall took in ₹290 on Friday, ₹50 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
23. 23.📒 Income or expense: paying the stall fee? (a) expense (b) income
24. 24.Arjun’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: cash from selling plants? (a) income (b) expense
26. 26.True or false: “printing posters” is income (money in). (a) False (b) True
27. 27.📒 Income or expense: a card order paid? (a) expense (b) income
28. 28.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) a card order paid (d) cash from selling plants
29. 29.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
30. 30.Joseph’s record for the day:
    Income: ₹470 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
31. 31.Riya’s stall took in ₹230 on Friday, ₹390 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
32. 32.Saanvi’s stall took in ₹310 on Friday, ₹150 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
33. 33.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
34. 34.True or false: “paying the stall fee” is income (money in). (a) True (b) False
35. 35.Joseph’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
36. 36.Lakshmi’s record for the day:
    Income: ₹540 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) expense (b) income
38. 38.Dev’s stall took in ₹120 on Friday, ₹110 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
39. 39.Kabir’s income was ₹280 and the profit was ₹130. One expense was ₹60 (lemons). How much was the other expense, for posters (in ₹)?
40. 40.Meera’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?

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