Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 921 · 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) tutoring fees received (b) buying paper cups (c) bus fare to the market (d) paying the stall fee
2. 2.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) printing posters
3. 3.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) bus fare to the market (d) money from sales
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
6. 6.True or false: “a card order paid” is income (money in). (a) False (b) True
7. 7.Riya’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹160 (card paper)
   Expense: ₹160 (posters)
   What is the profit (in ₹)?
8. 8.True or false: “paying the stall fee” is income (money in). (a) False (b) True
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) cash from selling plants (d) tutoring fees received
10. 10.Kavya’s stall took in ₹350 on Friday, ₹310 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
11. 11.Tara’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) income (b) expense
13. 13.True or false: “printing posters” is income (money in). (a) True (b) False
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
15. 15.Aarav’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
16. 16.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
17. 17.Dev’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
18. 18.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
19. 19.True or false: “bus fare to the market” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: payment for a cake order? (a) expense (b) income
21. 21.Farhan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
22. 22.Kabir’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
23. 23.Tara’s income was ₹270 and the profit was ₹230. One expense was ₹30 (stall fee). How much was the other expense, for ribbon (in ₹)?
24. 24.Ananya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
25. 25.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
26. 26.Kavya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: money from sales? (a) expense (b) income
28. 28.Saanvi’s stall took in ₹90 on Friday, ₹330 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
29. 29.Kavya’s income was ₹270 and the profit was ₹220. One expense was ₹40 (sugar). How much was the other expense, for stall fee (in ₹)?
30. 30.Arjun’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
31. 31.Riya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
32. 32.Arjun’s income was ₹370 and the profit was ₹240. One expense was ₹50 (paper cups). How much was the other expense, for transport (in ₹)?
33. 33.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
34. 34.Zoya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
35. 35.Saanvi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
36. 36.True or false: “buying paper cups” is income (money in). (a) True (b) False
37. 37.True or false: “buying lemons” is an expense (money out). (a) False (b) True
38. 38.True or false: “money from sales” is an expense (money out). (a) False (b) True
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.Aarav’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?

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