Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 876 · 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.📒 Income or expense: printing posters? (a) income (b) expense
2. 2.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
3. 3.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) tutoring fees received (d) paying the stall fee
4. 4.Rohan’s income was ₹140 and the profit was ₹30. One expense was ₹40 (sugar). How much was the other expense, for lemons (in ₹)?
5. 5.Vihaan’s income was ₹170 and the profit was ₹10. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
6. 6.Kavya’s stall took in ₹190 on Friday, ₹270 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
7. 7.📒 Income or expense: buying paper cups? (a) income (b) expense
8. 8.📒 Income or expense: bus fare to the market? (a) income (b) expense
9. 9.Meera’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹190 (ribbon)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: tutoring fees received? (a) expense (b) income
11. 11.Nisha’s stall took in ₹320 on Friday, ₹300 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
12. 12.Diya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
13. 13.Dev’s stall took in ₹70 on Friday, ₹250 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
14. 14.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
15. 15.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
16. 16.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) money from sales (d) cash from selling plants
17. 17.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) buying lemons
18. 18.📒 Income or expense: payment for a cake order? (a) income (b) expense
19. 19.Nisha’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) paying the stall fee
21. 21.📒 Income or expense: money from sales? (a) income (b) expense
22. 22.True or false: “money from sales” is income (money in). (a) False (b) True
23. 23.True or false: “a card order paid” is income (money in). (a) False (b) True
24. 24.True or false: “money from sales” is an expense (money out). (a) True (b) False
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) tutoring fees received (d) bus fare to the market
26. 26.Dev’s stall took in ₹240 on Friday, ₹70 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
27. 27.Lakshmi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
29. 29.📒 Income or expense: buying lemons? (a) expense (b) income
30. 30.Lakshmi’s income was ₹180 and the profit was ₹40. One expense was ₹90 (ribbon). How much was the other expense, for stall fee (in ₹)?
31. 31.True or false: “printing posters” is an expense (money out). (a) True (b) False
32. 32.Riya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
33. 33.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) printing posters
34. 34.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
35. 35.📒 Income or expense: cash from selling plants? (a) expense (b) income
36. 36.Ananya’s income was ₹270 and the profit was ₹100. One expense was ₹20 (ribbon). How much was the other expense, for card paper (in ₹)?
37. 37.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
38. 38.Rohan’s stall took in ₹100 on Friday, ₹210 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
39. 39.Arjun’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
40. 40.True or false: “buying paper cups” is an expense (money out). (a) False (b) True

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