Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 893 · 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) buying paper cups (b) bus fare to the market (c) a card order paid (d) buying lemons
2. 2.Saanvi’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹50 (posters)
   Expense: ₹140 (transport)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: payment for a cake order? (a) income (b) expense
4. 4.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) payment for a cake order (d) a card order paid
5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
6. 6.True or false: “payment for a cake order” is income (money in). (a) True (b) False
7. 7.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
8. 8.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
9. 9.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying paper cups (d) bus fare to the market
10. 10.📒 Income or expense: money from sales? (a) expense (b) income
11. 11.Riya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
12. 12.Joseph’s stall took in ₹210 on Friday, ₹140 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
13. 13.Zoya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
14. 14.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (posters)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
15. 15.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
16. 16.Kavya’s stall took in ₹390 on Friday, ₹250 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
17. 17.Kabir’s income was ₹330 and the profit was ₹240. One expense was ₹30 (stall fee). How much was the other expense, for transport (in ₹)?
18. 18.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) a card order paid (d) tutoring fees received
19. 19.📒 Income or expense: printing posters? (a) income (b) expense
20. 20.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) buying lemons
21. 21.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
22. 22.Ananya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹330 (posters)
    How much is the loss (in ₹)?
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) printing posters (d) cash from selling plants
24. 24.Aarav’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
25. 25.Meera’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
26. 26.Riya’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
27. 27.True or false: “a card order paid” is an expense (money out). (a) True (b) False
28. 28.True or false: “buying paper cups” is income (money in). (a) True (b) False
29. 29.Ananya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) bus fare to the market (d) buying paper cups
31. 31.Ananya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹180 (posters)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) payment for a cake order (d) paying the stall fee
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
34. 34.📒 Income or expense: cash from selling plants? (a) expense (b) income
35. 35.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: a card order paid? (a) expense (b) income
37. 37.Arjun’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹190 (transport)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
38. 38.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
39. 39.Ishaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
40. 40.📒 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

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