Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 779 · 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) cash from selling plants (b) buying paper cups (c) printing posters (d) paying the stall fee
2. 2.Joseph’s stall took in ₹220 on Friday, ₹110 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
4. 4.Meera’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹50 (card paper)
   Expense: ₹190 (ribbon)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.📒 Income or expense: printing posters? (a) expense (b) income
7. 7.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) money from sales (d) cash from selling plants
8. 8.True or false: “money from sales” is income (money in). (a) False (b) True
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.Vihaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
11. 11.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
12. 12.Ishaan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
13. 13.Arjun’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) bus fare to the market
18. 18.Ananya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹130 (paper cups)
    How much is the loss (in ₹)?
19. 19.Lakshmi’s income was ₹360 and the profit was ₹10. One expense was ₹90 (transport). How much was the other expense, for paper cups (in ₹)?
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying paper cups (d) printing posters
21. 21.Riya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) payment for a cake order (d) money from sales
23. 23.Rohan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹220 (ribbon)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
24. 24.Kavya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) tutoring fees received
26. 26.Rohan’s income was ₹110 and the profit was ₹80. One expense was ₹20 (posters). How much was the other expense, for lemons (in ₹)?
27. 27.Zoya’s income was ₹350 and the profit was ₹40. One expense was ₹110 (lemons). How much was the other expense, for sugar (in ₹)?
28. 28.Nisha’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
29. 29.Riya’s income was ₹320 and the profit was ₹80. One expense was ₹70 (stall fee). How much was the other expense, for transport (in ₹)?
30. 30.Dev’s income was ₹150 and the profit was ₹70. One expense was ₹70 (card paper). How much was the other expense, for posters (in ₹)?
31. 31.True or false: “buying lemons” is income (money in). (a) False (b) True
32. 32.Lakshmi’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
34. 34.Meera’s stall took in ₹160 on Friday, ₹110 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) payment for a cake order (d) money from sales
37. 37.Kavya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
38. 38.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
39. 39.Meera’s stall took in ₹160 on Friday, ₹150 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
40. 40.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy

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