Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 792 · 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) printing posters (b) a card order paid (c) cash from selling plants (d) money from sales
2. 2.📒 Income or expense: bus fare to the market? (a) income (b) expense
3. 3.True or false: “buying paper cups” is income (money in). (a) True (b) False
4. 4.Which of these is income (money in)? (a) money from sales (b) printing posters (c) bus fare to the market (d) paying the stall fee
5. 5.True or false: “buying lemons” is income (money in). (a) True (b) False
6. 6.Rohan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹360 (evening sales)
   Expense: ₹170 (transport)
   Expense: ₹80 (lemons)
   What is the profit (in ₹)?
7. 7.Ishaan’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹170 (posters)
   Expense: ₹70 (ribbon)
   What is the profit (in ₹)?
8. 8.Ananya’s income was ₹450 and the profit was ₹330. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
9. 9.📒 Income or expense: paying the stall fee? (a) income (b) expense
10. 10.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) paying the stall fee
11. 11.📒 Income or expense: money from sales? (a) income (b) expense
12. 12.📒 Income or expense: buying paper cups? (a) income (b) expense
13. 13.Dev’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
15. 15.Ananya’s income was ₹330 and the profit was ₹50. One expense was ₹250 (sugar). How much was the other expense, for ribbon (in ₹)?
16. 16.True or false: “buying lemons” is an expense (money out). (a) True (b) False
17. 17.Dev’s income was ₹170 and the profit was ₹80. One expense was ₹70 (lemons). How much was the other expense, for transport (in ₹)?
18. 18.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
19. 19.Tara’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
20. 20.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) tutoring fees received
21. 21.Joseph’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
22. 22.True or false: “tutoring fees received” is income (money in). (a) True (b) False
23. 23.True or false: “money from sales” is income (money in). (a) True (b) False
24. 24.📒 Income or expense: tutoring fees received? (a) expense (b) income
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) bus fare to the market (d) money from sales
27. 27.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) buying lemons (d) a card order paid
28. 28.📒 Income or expense: cash from selling plants? (a) expense (b) income
29. 29.📒 Income or expense: printing posters? (a) income (b) expense
30. 30.Aarav’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹260 (transport)
    How much is the loss (in ₹)?
31. 31.Ishaan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
32. 32.Gurpreet’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
33. 33.Vihaan’s stall took in ₹70 on Friday, ₹270 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
34. 34.Riya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
35. 35.Diya’s income was ₹360 and the profit was ₹210. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
36. 36.Kavya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹30 (transport)
    Expense: ₹210 (paper cups)
    How much is the loss (in ₹)?
37. 37.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) payment for a cake order (d) tutoring fees received
38. 38.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
39. 39.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
40. 40.Arjun’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?

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