Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 94 · 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) printing posters (c) tutoring fees received (d) cash from selling plants
2. 2.📒 Income or expense: buying paper cups? (a) expense (b) income
3. 3.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
4. 4.Meera’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹280 (lemons)
   Expense: ₹10 (paper cups)
   How much is the loss (in ₹)?
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) paying the stall fee
6. 6.Diya’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹130 (lemons)
   Expense: ₹70 (paper cups)
   What is the profit (in ₹)?
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) buying paper cups
8. 8.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) paying the stall fee
9. 9.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) money from sales (d) printing posters
10. 10.📒 Income or expense: printing posters? (a) income (b) expense
11. 11.Vihaan’s income was ₹240 and the profit was ₹10. One expense was ₹60 (ribbon). How much was the other expense, for posters (in ₹)?
12. 12.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) paying the stall fee (d) printing posters
13. 13.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) cash from selling plants (d) tutoring fees received
14. 14.📒 Income or expense: paying the stall fee? (a) income (b) expense
15. 15.True or false: “printing posters” is income (money in). (a) True (b) False
16. 16.Riya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
17. 17.Diya’s income was ₹190 and the profit was ₹10. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?
18. 18.Vihaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
19. 19.Riya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹360 (ribbon)
    How much is the loss (in ₹)?
20. 20.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
21. 21.True or false: “printing posters” is an expense (money out). (a) False (b) True
22. 22.Nisha’s income was ₹190 and the profit was ₹140. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?
23. 23.Kabir’s stall took in ₹130 on Friday, ₹270 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) bus fare to the market (d) printing posters
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.📒 Income or expense: money from sales? (a) expense (b) income
27. 27.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
28. 28.Ishaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹200 (transport)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: a card order paid? (a) expense (b) income
30. 30.True or false: “buying lemons” is income (money in). (a) False (b) True
31. 31.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
32. 32.Rohan’s income was ₹100 and the profit was ₹30. One expense was ₹30 (transport). How much was the other expense, for posters (in ₹)?
33. 33.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
34. 34.📒 Income or expense: bus fare to the market? (a) income (b) expense
35. 35.Riya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
36. 36.Aarav’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
37. 37.Meera’s stall took in ₹380 on Friday, ₹380 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
38. 38.Farhan’s stall took in ₹60 on Friday, ₹310 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) money from sales (d) a card order paid
40. 40.True or false: “tutoring fees received” is income (money in). (a) True (b) False

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