Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 929 · 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) a card order paid (b) tutoring fees received (c) money from sales (d) printing posters
2. 2.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
3. 3.True or false: “a card order paid” is an expense (money out). (a) True (b) False
4. 4.📒 Income or expense: money from sales? (a) income (b) expense
5. 5.Kavya’s stall took in ₹370 on Friday, ₹400 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
6. 6.📒 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
7. 7.Aarav’s stall took in ₹70 on Friday, ₹390 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “printing posters” is an expense (money out). (a) True (b) False
9. 9.Rohan’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹20 (card paper)
   Expense: ₹110 (paper cups)
   How much is the loss (in ₹)?
10. 10.Arjun’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.True or false: “buying lemons” is income (money in). (a) False (b) True
13. 13.📒 Income or expense: a card order paid? (a) expense (b) income
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) tutoring fees received (d) printing posters
15. 15.Lakshmi’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
16. 16.Vihaan’s income was ₹160 and the profit was ₹100. One expense was ₹30 (stall fee). How much was the other expense, for card paper (in ₹)?
17. 17.True or false: “buying paper cups” is income (money in). (a) True (b) False
18. 18.📒 Income or expense: printing posters? (a) expense (b) income
19. 19.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
20. 20.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying lemons (d) printing posters
21. 21.Dev’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: buying paper cups? (a) income (b) expense
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) payment for a cake order (d) buying lemons
24. 24.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
25. 25.Zoya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
26. 26.Diya’s stall took in ₹130 on Friday, ₹280 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: cash from selling plants? (a) expense (b) income
28. 28.Joseph’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹190 (sugar)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
29. 29.Ananya’s stall took in ₹280 on Friday, ₹70 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
31. 31.Rohan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
32. 32.Joseph’s income was ₹430 and the profit was ₹40. One expense was ₹320 (lemons). How much was the other expense, for posters (in ₹)?
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying lemons (d) tutoring fees received
34. 34.Vihaan’s stall took in ₹80 on Friday, ₹80 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
35. 35.Diya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
36. 36.Nisha’s stall took in ₹190 on Friday, ₹350 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) buying paper cups
38. 38.Zoya’s stall took in ₹210 on Friday, ₹330 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
39. 39.Vihaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) a card order paid (d) buying lemons

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