Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 777 · 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) tutoring fees received (b) paying the stall fee (c) money from sales (d) a card order paid
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
4. 4.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) payment for a cake order (d) paying the stall fee
5. 5.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
6. 6.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
7. 7.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) money from sales (d) a card order paid
8. 8.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) printing posters (d) tutoring fees received
9. 9.Kabir’s stall took in ₹260 on Friday, ₹150 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) paying the stall fee (d) bus fare to the market
11. 11.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
12. 12.Nisha’s stall took in ₹140 on Friday, ₹70 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
13. 13.Ananya’s income was ₹430 and the profit was ₹370. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
14. 14.📒 Income or expense: a card order paid? (a) expense (b) income
15. 15.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
16. 16.Nisha’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) paying the stall fee (d) printing posters
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
20. 20.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) bus fare to the market
21. 21.Rohan’s stall took in ₹300 on Friday, ₹100 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
22. 22.Zoya’s income was ₹160 and the profit was ₹70. One expense was ₹50 (paper cups). How much was the other expense, for posters (in ₹)?
23. 23.📒 Income or expense: buying lemons? (a) expense (b) income
24. 24.Gurpreet’s stall took in ₹240 on Friday, ₹70 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
26. 26.Farhan’s income was ₹110 and the profit was ₹40. One expense was ₹30 (posters). How much was the other expense, for stall fee (in ₹)?
27. 27.📒 Income or expense: bus fare to the market? (a) expense (b) income
28. 28.📒 Income or expense: cash from selling plants? (a) expense (b) income
29. 29.True or false: “tutoring fees received” is income (money in). (a) False (b) True
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying paper cups (d) a card order paid
31. 31.Diya’s income was ₹410 and the profit was ₹190. One expense was ₹200 (sugar). How much was the other expense, for stall fee (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
34. 34.Tara’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
35. 35.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
36. 36.True or false: “payment for a cake order” is income (money in). (a) True (b) False
37. 37.Rohan’s stall took in ₹80 on Friday, ₹390 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
38. 38.Lakshmi’s income was ₹270 and the profit was ₹240. One expense was ₹20 (stall fee). How much was the other expense, for paper cups (in ₹)?
39. 39.True or false: “printing posters” is an expense (money out). (a) True (b) False
40. 40.Arjun’s stall took in ₹100 on Friday, ₹380 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?

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