Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 794 · 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) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) money from sales
2. 2.📒 Income or expense: buying lemons? (a) expense (b) income
3. 3.True or false: “a card order paid” is an expense (money out). (a) True (b) False
4. 4.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
5. 5.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) paying the stall fee (d) buying lemons
6. 6.True or false: “buying lemons” is an expense (money out). (a) True (b) False
7. 7.True or false: “buying paper cups” is income (money in). (a) True (b) False
8. 8.Diya’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹170 (posters)
   Expense: ₹200 (paper cups)
   What is the profit (in ₹)?
9. 9.Gurpreet’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹100 (transport)
   Expense: ₹40 (ribbon)
   How much is the loss (in ₹)?
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
11. 11.Dev’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
12. 12.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) paying the stall fee
13. 13.Meera’s stall took in ₹320 on Friday, ₹280 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: paying the stall fee? (a) expense (b) income
15. 15.True or false: “printing posters” is an expense (money out). (a) True (b) False
16. 16.Diya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
17. 17.Kabir’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹230 (stall fee)
    How much is the loss (in ₹)?
18. 18.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
19. 19.Farhan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: tutoring fees received? (a) expense (b) income
21. 21.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
22. 22.Nisha’s income was ₹490 and the profit was ₹40. One expense was ₹240 (lemons). How much was the other expense, for stall fee (in ₹)?
23. 23.Dev’s income was ₹490 and the profit was ₹200. One expense was ₹150 (card paper). How much was the other expense, for posters (in ₹)?
24. 24.Dev’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
25. 25.Ananya’s stall took in ₹160 on Friday, ₹400 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
26. 26.Diya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
27. 27.Ananya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹200 (transport)
    Expense: ₹130 (paper cups)
    How much is the loss (in ₹)?
28. 28.True or false: “buying lemons” is income (money in). (a) True (b) False
29. 29.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
30. 30.Kavya’s income was ₹400 and the profit was ₹380. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
31. 31.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) payment for a cake order (d) bus fare to the market
32. 32.Diya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹230 (ribbon)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: money from sales? (a) income (b) expense
34. 34.Ishaan’s income was ₹190 and the profit was ₹90. One expense was ₹50 (paper cups). How much was the other expense, for sugar (in ₹)?
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
36. 36.True or false: “money from sales” is income (money in). (a) False (b) True
37. 37.📒 Income or expense: cash from selling plants? (a) income (b) expense
38. 38.Dev’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
39. 39.Gurpreet’s stall took in ₹310 on Friday, ₹180 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
40. 40.📒 Income or expense: bus fare to the market? (a) income (b) expense

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