Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 959 · 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: “tutoring fees received” is income (money in). (a) False (b) True
2. 2.Joseph’s stall took in ₹90 on Friday, ₹60 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.Diya’s stall took in ₹350 on Friday, ₹180 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
6. 6.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
7. 7.Meera’s income was ₹210 and the profit was ₹50. One expense was ₹150 (lemons). How much was the other expense, for posters (in ₹)?
8. 8.True or false: “buying lemons” is an expense (money out). (a) True (b) False
9. 9.📒 Income or expense: money from sales? (a) expense (b) income
10. 10.Tara’s income was ₹460 and the profit was ₹110. One expense was ₹160 (card paper). How much was the other expense, for transport (in ₹)?
11. 11.Rohan’s income was ₹420 and the profit was ₹290. One expense was ₹100 (sugar). How much was the other expense, for paper cups (in ₹)?
12. 12.Farhan’s income was ₹410 and the profit was ₹190. One expense was ₹90 (stall fee). How much was the other expense, for paper cups (in ₹)?
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) tutoring fees received (d) a card order paid
14. 14.True or false: “printing posters” is an expense (money out). (a) True (b) False
15. 15.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) money from sales (d) payment for a cake order
16. 16.📒 Income or expense: tutoring fees received? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) paying the stall fee (d) buying lemons
18. 18.True or false: “payment for a cake order” is income (money in). (a) False (b) True
19. 19.Diya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
20. 20.Dev’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹310 (stall fee)
    How much is the loss (in ₹)?
21. 21.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹260 (lemons)
    How much is the loss (in ₹)?
22. 22.Ishaan’s stall took in ₹240 on Friday, ₹320 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
23. 23.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
24. 24.Arjun’s stall took in ₹180 on Friday, ₹80 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
26. 26.Zoya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying lemons (d) bus fare to the market
28. 28.📒 Income or expense: payment for a cake order? (a) income (b) expense
29. 29.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) paying the stall fee (d) buying paper cups
30. 30.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) bus fare to the market (d) buying paper cups
31. 31.Dev’s stall took in ₹270 on Friday, ₹380 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “money from sales” is an expense (money out). (a) True (b) False
33. 33.Saanvi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
34. 34.Meera’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹200 (card paper)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
35. 35.Dev’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
37. 37.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) bus fare to the market
38. 38.📒 Income or expense: buying lemons? (a) expense (b) income
39. 39.📒 Income or expense: a card order paid? (a) income (b) expense
40. 40.📒 Income or expense: paying the stall fee? (a) income (b) expense

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