Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 916 · 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) cash from selling plants (b) tutoring fees received (c) paying the stall fee (d) a card order paid
2. 2.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) a card order paid (d) payment for a cake order
3. 3.Dev’s income was ₹160 and the profit was ₹50. One expense was ₹50 (paper cups). How much was the other expense, for lemons (in ₹)?
4. 4.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
5. 5.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
6. 6.Aarav’s stall took in ₹120 on Friday, ₹80 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
7. 7.📒 Income or expense: paying the stall fee? (a) expense (b) income
8. 8.True or false: “money from sales” is an expense (money out). (a) True (b) False
9. 9.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
10. 10.Tara’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
11. 11.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
12. 12.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.Meera’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
15. 15.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
16. 16.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) printing posters (d) money from sales
17. 17.📒 Income or expense: bus fare to the market? (a) income (b) expense
18. 18.Gurpreet’s income was ₹340 and the profit was ₹180. One expense was ₹120 (posters). How much was the other expense, for transport (in ₹)?
19. 19.Dev’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹260 (sugar)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: buying paper cups? (a) expense (b) income
21. 21.Riya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹180 (paper cups)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
22. 22.Aarav’s stall took in ₹320 on Friday, ₹100 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
23. 23.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
24. 24.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) buying lemons (d) buying paper cups
25. 25.📒 Income or expense: printing posters? (a) expense (b) income
26. 26.True or false: “buying paper cups” is income (money in). (a) False (b) True
27. 27.Ananya’s income was ₹120 and the profit was ₹60. One expense was ₹50 (paper cups). How much was the other expense, for transport (in ₹)?
28. 28.True or false: “bus fare to the market” is income (money in). (a) False (b) True
29. 29.Rohan’s stall took in ₹160 on Friday, ₹230 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
31. 31.Ananya’s stall took in ₹130 on Friday, ₹90 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
32. 32.Diya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
33. 33.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
34. 34.Zoya’s stall took in ₹160 on Friday, ₹380 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
36. 36.Gurpreet’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?
37. 37.Zoya’s stall took in ₹350 on Friday, ₹90 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
38. 38.Rohan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹150 (transport)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
39. 39.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
40. 40.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?

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