Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 912 · 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 lemons (b) payment for a cake order (c) printing posters (d) paying the stall fee
2. 2.True or false: “buying paper cups” is income (money in). (a) True (b) False
3. 3.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
4. 4.True or false: “printing posters” is income (money in). (a) False (b) True
5. 5.Aarav’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹180 (paper cups)
   Expense: ₹10 (transport)
   How much is the loss (in ₹)?
6. 6.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) a card order paid
7. 7.Diya’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹120 (sugar)
   Expense: ₹180 (paper cups)
   What is the profit (in ₹)?
8. 8.Aarav’s stall took in ₹360 on Friday, ₹340 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
9. 9.Riya’s stall took in ₹190 on Friday, ₹140 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) paying the stall fee
11. 11.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) money from sales (d) buying lemons
12. 12.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
13. 13.Joseph’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
14. 14.True or false: “paying the stall fee” is income (money in). (a) True (b) False
15. 15.📒 Income or expense: buying paper cups? (a) expense (b) income
16. 16.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
17. 17.True or false: “a card order paid” is an expense (money out). (a) True (b) False
18. 18.Aarav’s stall took in ₹400 on Friday, ₹140 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “money from sales” is an expense (money out). (a) True (b) False
20. 20.Riya’s income was ₹430 and the profit was ₹50. One expense was ₹140 (stall fee). How much was the other expense, for sugar (in ₹)?
21. 21.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
22. 22.📒 Income or expense: a card order paid? (a) income (b) expense
23. 23.Diya’s income was ₹140 and the profit was ₹10. One expense was ₹30 (sugar). How much was the other expense, for card paper (in ₹)?
24. 24.Ananya’s stall took in ₹390 on Friday, ₹190 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
25. 25.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
26. 26.📒 Income or expense: printing posters? (a) expense (b) income
27. 27.Zoya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
28. 28.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) cash from selling plants (d) payment for a cake order
29. 29.Zoya’s stall took in ₹230 on Friday, ₹50 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
30. 30.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
31. 31.Ishaan’s stall took in ₹390 on Friday, ₹340 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
32. 32.Ananya’s stall took in ₹370 on Friday, ₹240 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
33. 33.Rohan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
34. 34.Saanvi’s stall took in ₹80 on Friday, ₹370 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
35. 35.Rohan’s stall took in ₹360 on Friday, ₹180 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
36. 36.Aarav’s stall took in ₹140 on Friday, ₹210 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) printing posters (d) cash from selling plants
38. 38.Nisha’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: money from sales? (a) expense (b) income
40. 40.Meera’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?

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