Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 934 · 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.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
2. 2.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
4. 4.Kabir’s stall took in ₹350 on Friday, ₹390 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
5. 5.Ananya’s stall took in ₹180 on Friday, ₹250 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
6. 6.Kabir’s stall took in ₹220 on Friday, ₹200 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
7. 7.📒 Income or expense: printing posters? (a) expense (b) income
8. 8.📒 Income or expense: tutoring fees received? (a) expense (b) income
9. 9.Ananya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹40 (paper cups)
   Expense: ₹70 (ribbon)
   How much is the loss (in ₹)?
10. 10.Tara’s income was ₹210 and the profit was ₹60. One expense was ₹50 (lemons). How much was the other expense, for posters (in ₹)?
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) cash from selling plants
12. 12.Kabir’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
13. 13.Rohan’s stall took in ₹270 on Friday, ₹360 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
15. 15.True or false: “bus fare to the market” is income (money in). (a) True (b) False
16. 16.Farhan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
17. 17.Arjun’s income was ₹140 and the profit was ₹60. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
18. 18.True or false: “money from sales” is an expense (money out). (a) True (b) False
19. 19.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) money from sales (d) buying paper cups
20. 20.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) cash from selling plants (d) tutoring fees received
21. 21.Kavya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) income (b) expense
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) printing posters
24. 24.Gurpreet’s income was ₹270 and the profit was ₹180. One expense was ₹60 (posters). How much was the other expense, for paper cups (in ₹)?
25. 25.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying lemons (d) buying paper cups
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
27. 27.Zoya’s stall took in ₹380 on Friday, ₹220 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) printing posters
29. 29.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
30. 30.True or false: “money from sales” is income (money in). (a) True (b) False
31. 31.Zoya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹350 (stall fee)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
32. 32.True or false: “buying lemons” is an expense (money out). (a) False (b) True
33. 33.True or false: “tutoring fees received” is income (money in). (a) True (b) False
34. 34.Kavya’s income was ₹440 and the profit was ₹170. One expense was ₹60 (stall fee). How much was the other expense, for sugar (in ₹)?
35. 35.Aarav’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
36. 36.Kavya’s income was ₹180 and the profit was ₹70. One expense was ₹100 (card paper). How much was the other expense, for paper cups (in ₹)?
37. 37.Diya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: cash from selling plants? (a) income (b) expense
39. 39.Aarav’s income was ₹190 and the profit was ₹70. One expense was ₹40 (card paper). How much was the other expense, for posters (in ₹)?
40. 40.True or false: “buying lemons” is income (money in). (a) True (b) False

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