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Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 856 · 40 questions
TalentJR

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.

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  1. 1.True or false: “printing posters” is income (money in). (a) False (b) True
  2. 2.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) buying paper cups
  3. 3.True or false: “money from sales” is an expense (money out). (a) True (b) False
  4. 4.Ananya’s income was ₹200 and the profit was ₹120. One expense was ₹70 (paper cups). How much was the other expense, for posters (in ₹)?
  5. 5.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) buying lemons (d) paying the stall fee
  6. 6.Dev’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
  7. 7.📒 Income or expense: buying paper cups? (a) expense (b) income
  8. 8.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) money from sales
  9. 9.Nisha’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
  10. 10.📒 Income or expense: money from sales? (a) expense (b) income
  11. 11.📒 Income or expense: cash from selling plants? (a) income (b) expense
  12. 12.Rohan’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
  13. 13.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
  14. 14.True or false: “tutoring fees received” is income (money in). (a) True (b) False
  15. 15.Saanvi’s stall took in ₹320 on Friday, ₹50 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
  16. 16.True or false: “printing posters” is an expense (money out). (a) False (b) True
  17. 17.Joseph’s stall took in ₹140 on Friday, ₹360 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
  18. 18.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
  19. 19.True or false: “cash from selling plants” is income (money in). (a) True (b) False
  20. 20.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) a card order paid (d) paying the stall fee
  21. 21.Ananya’s stall took in ₹190 on Friday, ₹50 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
  22. 22.True or false: “buying paper cups” is income (money in). (a) False (b) True
  23. 23.📒 Income or expense: paying the stall fee? (a) expense (b) income
  24. 24.True or false: “a card order paid” is an expense (money out). (a) True (b) False
  25. 25.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) paying the stall fee (d) printing posters
  26. 26.Rohan’s income was ₹450 and the profit was ₹280. One expense was ₹130 (card paper). How much was the other expense, for ribbon (in ₹)?
  27. 27.Kabir’s stall took in ₹90 on Friday, ₹120 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
  28. 28.Ishaan’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
  29. 29.Ananya’s income was ₹130 and the profit was ₹70. One expense was ₹20 (card paper). How much was the other expense, for stall fee (in ₹)?
  30. 30.Ananya’s stall took in ₹320 on Friday, ₹200 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
  31. 31.Dev’s income was ₹220 and the profit was ₹60. One expense was ₹50 (transport). How much was the other expense, for posters (in ₹)?
  32. 32.📒 Income or expense: tutoring fees received? (a) income (b) expense
  33. 33.📒 Income or expense: bus fare to the market? (a) expense (b) income
  34. 34.True or false: “a card order paid” is income (money in). (a) False (b) True
  35. 35.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
  36. 36.True or false: “buying lemons” is an expense (money out). (a) False (b) True
  37. 37.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) bus fare to the market
  38. 38.Tara’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (posters)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
  39. 39.📒 Income or expense: buying lemons? (a) income (b) expense
  40. 40.Arjun’s income was ₹450 and the profit was ₹40. One expense was ₹400 (lemons). How much was the other expense, for card paper (in ₹)?

Answer key

  1. False
  2. buying paper cups
  3. False
  4. 10
  5. tutoring fees received
  6. 270
  7. expense
  8. money from sales
  9. 190
  10. income
  11. income
  12. 260
  13. 40
  14. True
  15. 560
  16. True
  17. 700
  18. the same day
  19. True
  20. a card order paid
  21. 440
  22. False
  23. expense
  24. False
  25. payment for a cake order
  26. 40
  27. 600
  28. 280
  29. 40
  30. 570
  31. 110
  32. income
  33. expense
  34. True
  35. False
  36. True
  37. cash from selling plants
  38. 30
  39. expense
  40. 10

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