Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 874 · 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: “money from sales” is an expense (money out). (a) True (b) False
2. 2.📒 Income or expense: buying lemons? (a) expense (b) income
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
4. 4.📒 Income or expense: payment for a cake order? (a) expense (b) income
5. 5.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) payment for a cake order (d) buying lemons
7. 7.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying lemons (d) printing posters
8. 8.Ananya’s income was ₹210 and the profit was ₹10. One expense was ₹100 (card paper). How much was the other expense, for paper cups (in ₹)?
9. 9.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
10. 10.Rohan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
11. 11.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) paying the stall fee (d) buying paper cups
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) payment for a cake order (d) money from sales
14. 14.Rohan’s stall took in ₹130 on Friday, ₹100 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “money from sales” is income (money in). (a) False (b) True
16. 16.True or false: “a card order paid” is income (money in). (a) True (b) False
17. 17.📒 Income or expense: buying paper cups? (a) income (b) expense
18. 18.Zoya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
19. 19.Dev’s income was ₹370 and the profit was ₹100. One expense was ₹200 (card paper). How much was the other expense, for ribbon (in ₹)?
20. 20.Vihaan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
21. 21.Diya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹230 (sugar)
    How much is the loss (in ₹)?
22. 22.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
23. 23.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
24. 24.Zoya’s income was ₹240 and the profit was ₹110. One expense was ₹120 (stall fee). How much was the other expense, for transport (in ₹)?
25. 25.Joseph’s income was ₹460 and the profit was ₹160. One expense was ₹20 (transport). How much was the other expense, for stall fee (in ₹)?
26. 26.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) a card order paid (d) cash from selling plants
27. 27.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: printing posters? (a) income (b) expense
29. 29.📒 Income or expense: money from sales? (a) income (b) expense
30. 30.Diya’s income was ₹160 and the profit was ₹10. One expense was ₹140 (ribbon). How much was the other expense, for lemons (in ₹)?
31. 31.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
32. 32.Zoya’s income was ₹290 and the profit was ₹20. One expense was ₹30 (transport). How much was the other expense, for card paper (in ₹)?
33. 33.Gurpreet’s stall took in ₹60 on Friday, ₹290 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
35. 35.True or false: “buying paper cups” is income (money in). (a) True (b) False
36. 36.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
37. 37.Dev’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
38. 38.True or false: “printing posters” is income (money in). (a) False (b) True
39. 39.Gurpreet’s income was ₹360 and the profit was ₹40. One expense was ₹270 (card paper). How much was the other expense, for ribbon (in ₹)?
40. 40.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying paper cups (d) cash from selling plants

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