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Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 928 · 40 questions
TalentJR

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.

NameDateTime takenScore ___ / 40
  1. 1.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
  2. 2.Gurpreet’s income was ₹210 and the profit was ₹50. One expense was ₹70 (lemons). How much was the other expense, for sugar (in ₹)?
  3. 3.Kavya’s stall took in ₹60 on Friday, ₹220 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
  4. 4.Aarav’s stall took in ₹110 on Friday, ₹260 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
  5. 5.📒 Income or expense: printing posters? (a) expense (b) income
  6. 6.📒 Income or expense: cash from selling plants? (a) expense (b) income
  7. 7.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) buying paper cups
  8. 8.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) payment for a cake order (d) printing posters
  9. 9.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (posters)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
  10. 10.📒 Income or expense: bus fare to the market? (a) expense (b) income
  11. 11.📒 Income or expense: a card order paid? (a) income (b) expense
  12. 12.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
  13. 13.📒 Income or expense: paying the stall fee? (a) expense (b) income
  14. 14.Dev’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
  15. 15.True or false: “buying lemons” is income (money in). (a) False (b) True
  16. 16.Dev’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
  17. 17.True or false: “money from sales” is income (money in). (a) True (b) False
  18. 18.Nisha’s stall took in ₹60 on Friday, ₹340 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
  19. 19.Joseph’s record for the day:
    Income: ₹580 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
  20. 20.True or false: “money from sales” is an expense (money out). (a) False (b) True
  21. 21.Zoya’s stall took in ₹110 on Friday, ₹80 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
  22. 22.Aarav’s stall took in ₹330 on Friday, ₹70 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
  23. 23.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
  24. 24.Gurpreet’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹230 (transport)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
  25. 25.True or false: “a card order paid” is an expense (money out). (a) False (b) True
  26. 26.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
  27. 27.Ananya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
  28. 28.True or false: “paying the stall fee” is income (money in). (a) False (b) True
  29. 29.Kavya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
  30. 30.Riya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹60 (posters)
    Expense: ₹150 (card paper)
    How much is the loss (in ₹)?
  31. 31.Saanvi’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
  32. 32.Ishaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
  33. 33.Vihaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹350 (transport)
    How much is the loss (in ₹)?
  34. 34.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) paying the stall fee
  35. 35.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
  36. 36.📒 Income or expense: tutoring fees received? (a) income (b) expense
  37. 37.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹320 (lemons)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
  38. 38.Joseph’s income was ₹340 and the profit was ₹100. One expense was ₹170 (ribbon). How much was the other expense, for card paper (in ₹)?
  39. 39.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
  40. 40.True or false: “cash from selling plants” is income (money in). (a) True (b) False

Answer key

  1. the bill or receipt
  2. 90
  3. 490
  4. 450
  5. expense
  6. income
  7. buying paper cups
  8. payment for a cake order
  9. 90
  10. expense
  11. income
  12. income − expenses
  13. expense
  14. 10
  15. False
  16. 220
  17. True
  18. 570
  19. 250
  20. False
  21. 340
  22. 570
  23. True
  24. 90
  25. False
  26. to know the real profit
  27. 110
  28. False
  29. 20
  30. 70
  31. 80
  32. 70
  33. 60
  34. paying the stall fee
  35. True
  36. income
  37. 90
  38. 70
  39. 60
  40. True

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