Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 862 · 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) tutoring fees received (b) buying lemons (c) paying the stall fee (d) buying paper cups
2. 2.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
3. 3.Diya’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹170 (ribbon)
   Expense: ₹90 (posters)
   What is the profit (in ₹)?
4. 4.Kabir’s income was ₹360 and the profit was ₹210. One expense was ₹130 (paper cups). How much was the other expense, for ribbon (in ₹)?
5. 5.True or false: “buying lemons” is an expense (money out). (a) True (b) False
6. 6.Joseph’s record for the day:
   Income: ₹530 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹190 (paper cups)
   Expense: ₹200 (card paper)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.Kabir’s stall took in ₹190 on Friday, ₹60 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) money from sales (d) buying lemons
10. 10.Riya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
11. 11.True or false: “money from sales” is an expense (money out). (a) True (b) False
12. 12.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
13. 13.True or false: “bus fare to the market” is income (money in). (a) False (b) True
14. 14.📒 Income or expense: money from sales? (a) income (b) expense
15. 15.Gurpreet’s stall took in ₹280 on Friday, ₹80 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
16. 16.Rohan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
17. 17.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
18. 18.True or false: “buying paper cups” is income (money in). (a) False (b) True
19. 19.Diya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
20. 20.Ishaan’s income was ₹470 and the profit was ₹170. One expense was ₹60 (lemons). How much was the other expense, for stall fee (in ₹)?
21. 21.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) money from sales (d) tutoring fees received
22. 22.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order
23. 23.Meera’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: paying the stall fee? (a) expense (b) income
25. 25.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
26. 26.📒 Income or expense: printing posters? (a) income (b) expense
27. 27.Meera’s stall took in ₹290 on Friday, ₹80 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) paying the stall fee
29. 29.📒 Income or expense: buying paper cups? (a) income (b) expense
30. 30.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) buying lemons (d) paying the stall fee
31. 31.📒 Income or expense: bus fare to the market? (a) expense (b) income
32. 32.Meera’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
33. 33.Aarav’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
34. 34.True or false: “printing posters” is income (money in). (a) False (b) True
35. 35.Nisha’s stall took in ₹110 on Friday, ₹330 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
36. 36.Ishaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
37. 37.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) buying paper cups
38. 38.Aarav’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹310 (paper cups)
    How much is the loss (in ₹)?
39. 39.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
40. 40.True or false: “printing posters” is an expense (money out). (a) False (b) True

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