Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 882 · 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 an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) a card order paid
2. 2.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
3. 3.True or false: “buying paper cups” is income (money in). (a) True (b) False
4. 4.True or false: “payment for a cake order” is income (money in). (a) False (b) True
5. 5.Kavya’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹10 (posters)
   Expense: ₹230 (ribbon)
   How much is the loss (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
7. 7.Riya’s stall took in ₹220 on Friday, ₹170 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: tutoring fees received? (a) income (b) expense
9. 9.Kavya’s income was ₹390 and the profit was ₹260. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
10. 10.Lakshmi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
11. 11.Dev’s stall took in ₹220 on Friday, ₹80 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) paying the stall fee
13. 13.📒 Income or expense: paying the stall fee? (a) expense (b) income
14. 14.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
15. 15.Kavya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
17. 17.📒 Income or expense: buying lemons? (a) expense (b) income
18. 18.Zoya’s income was ₹250 and the profit was ₹60. One expense was ₹30 (posters). How much was the other expense, for stall fee (in ₹)?
19. 19.📒 Income or expense: bus fare to the market? (a) income (b) expense
20. 20.Farhan’s stall took in ₹200 on Friday, ₹210 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) payment for a cake order (d) money from sales
23. 23.Meera’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
24. 24.Farhan’s stall took in ₹350 on Friday, ₹340 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
25. 25.Ananya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
26. 26.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
27. 27.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
28. 28.Arjun’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
29. 29.True or false: “bus fare to the market” is income (money in). (a) True (b) False
30. 30.True or false: “printing posters” is income (money in). (a) True (b) False
31. 31.True or false: “money from sales” is an expense (money out). (a) True (b) False
32. 32.True or false: “tutoring fees received” is income (money in). (a) True (b) False
33. 33.Saanvi’s income was ₹120 and the profit was ₹70. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
34. 34.Zoya’s income was ₹330 and the profit was ₹70. One expense was ₹90 (ribbon). How much was the other expense, for transport (in ₹)?
35. 35.Riya’s income was ₹140 and the profit was ₹10. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
36. 36.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) a card order paid (d) buying lemons
37. 37.📒 Income or expense: printing posters? (a) expense (b) income
38. 38.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying lemons (d) tutoring fees received
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
40. 40.Rohan’s income was ₹100 and the profit was ₹10. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?

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