Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 951 · 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) payment for a cake order (b) printing posters (c) buying lemons (d) bus fare to the market
2. 2.📒 Income or expense: money from sales? (a) expense (b) income
3. 3.Nisha’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹170 (lemons)
   Expense: ₹100 (sugar)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: printing posters? (a) expense (b) income
5. 5.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying lemons (d) bus fare to the market
6. 6.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
7. 7.Nisha’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹100 (posters)
   Expense: ₹60 (sugar)
   How much is the loss (in ₹)?
8. 8.Aarav’s income was ₹330 and the profit was ₹60. One expense was ₹250 (lemons). How much was the other expense, for posters (in ₹)?
9. 9.📒 Income or expense: buying paper cups? (a) income (b) expense
10. 10.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) printing posters (d) buying lemons
11. 11.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
12. 12.Kavya’s stall took in ₹280 on Friday, ₹120 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
13. 13.Meera’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
14. 14.True or false: “money from sales” is an expense (money out). (a) True (b) False
15. 15.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) paying the stall fee (d) money from sales
18. 18.Rohan’s stall took in ₹60 on Friday, ₹260 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
20. 20.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
21. 21.Joseph’s stall took in ₹50 on Friday, ₹380 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: tutoring fees received? (a) expense (b) income
23. 23.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) cash from selling plants (d) a card order paid
24. 24.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
25. 25.Aarav’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹230 (ribbon)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
26. 26.Joseph’s income was ₹350 and the profit was ₹270. One expense was ₹70 (lemons). How much was the other expense, for paper cups (in ₹)?
27. 27.Aarav’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
28. 28.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
29. 29.True or false: “printing posters” is an expense (money out). (a) True (b) False
30. 30.Gurpreet’s stall took in ₹330 on Friday, ₹230 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
31. 31.Riya’s stall took in ₹120 on Friday, ₹110 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) money from sales
33. 33.True or false: “buying lemons” is income (money in). (a) True (b) False
34. 34.📒 Income or expense: payment for a cake order? (a) income (b) expense
35. 35.Zoya’s stall took in ₹390 on Friday, ₹400 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “payment for a cake order” is income (money in). (a) False (b) True
37. 37.Riya’s stall took in ₹230 on Friday, ₹130 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: cash from selling plants? (a) expense (b) income
39. 39.Lakshmi’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
40. 40.Riya’s stall took in ₹140 on Friday, ₹110 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?

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