Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 855 · 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: “paying the stall fee” is income (money in). (a) False (b) True
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.True or false: “money from sales” is income (money in). (a) True (b) False
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) buying lemons
5. 5.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) money from sales (d) bus fare to the market
6. 6.Meera’s income was ₹110 and the profit was ₹40. One expense was ₹60 (lemons). How much was the other expense, for card paper (in ₹)?
7. 7.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
8. 8.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) money from sales (d) buying paper cups
11. 11.📒 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
12. 12.Kabir’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
13. 13.Zoya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
14. 14.Riya’s stall took in ₹260 on Friday, ₹250 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
15. 15.Kabir’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
16. 16.Meera’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
17. 17.Gurpreet’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
18. 18.Joseph’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
19. 19.Saanvi’s stall took in ₹140 on Friday, ₹150 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “bus fare to the market” is income (money in). (a) True (b) False
21. 21.Joseph’s stall took in ₹240 on Friday, ₹320 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
22. 22.Farhan’s income was ₹110 and the profit was ₹60. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
23. 23.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) printing posters (d) buying paper cups
24. 24.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) printing posters (d) tutoring fees received
26. 26.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) a card order paid (d) printing posters
27. 27.Vihaan’s income was ₹350 and the profit was ₹70. One expense was ₹50 (posters). How much was the other expense, for sugar (in ₹)?
28. 28.📒 Income or expense: payment for a cake order? (a) expense (b) income
29. 29.True or false: “buying paper cups” is income (money in). (a) False (b) True
30. 30.Meera’s stall took in ₹260 on Friday, ₹390 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
31. 31.Nisha’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
32. 32.Diya’s stall took in ₹260 on Friday, ₹70 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
33. 33.Meera’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
34. 34.True or false: “a card order paid” is an expense (money out). (a) True (b) False
35. 35.Kabir’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (transport)
    Expense: ₹200 (ribbon)
    How much is the loss (in ₹)?
36. 36.Lakshmi’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
37. 37.Rohan’s stall took in ₹260 on Friday, ₹340 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) tutoring fees received (d) bus fare to the market
39. 39.True or false: “a card order paid” is income (money in). (a) True (b) False
40. 40.Rohan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?

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