Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 964 · 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.Nisha’s income was ₹350 and the profit was ₹50. One expense was ₹110 (stall fee). How much was the other expense, for transport (in ₹)?
2. 2.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
3. 3.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) buying lemons (d) paying the stall fee
4. 4.True or false: “buying lemons” is an expense (money out). (a) True (b) False
5. 5.Diya’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹190 (lemons)
   Expense: ₹160 (stall fee)
   What is the profit (in ₹)?
6. 6.Dev’s stall took in ₹190 on Friday, ₹270 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
7. 7.Lakshmi’s stall took in ₹140 on Friday, ₹240 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
8. 8.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
9. 9.Saanvi’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹110 (sugar)
   Expense: ₹150 (posters)
   How much is the loss (in ₹)?
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹110 (posters)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
11. 11.True or false: “buying paper cups” is income (money in). (a) True (b) False
12. 12.Kavya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (transport)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
13. 13.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
14. 14.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) payment for a cake order (d) tutoring fees received
15. 15.Lakshmi’s stall took in ₹400 on Friday, ₹200 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
16. 16.Vihaan’s stall took in ₹280 on Friday, ₹60 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
17. 17.Meera’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: tutoring fees received? (a) expense (b) income
19. 19.📒 Income or expense: payment for a cake order? (a) income (b) expense
20. 20.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
21. 21.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) bus fare to the market (d) paying the stall fee
22. 22.📒 Income or expense: buying paper cups? (a) income (b) expense
23. 23.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) money from sales (d) buying paper cups
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.Meera’s stall took in ₹310 on Friday, ₹250 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
26. 26.Farhan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
27. 27.Dev’s stall took in ₹320 on Friday, ₹290 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
28. 28.Saanvi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹190 (card paper)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: cash from selling plants? (a) expense (b) income
30. 30.Saanvi’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: a card order paid? (a) expense (b) income
32. 32.Ananya’s stall took in ₹310 on Friday, ₹280 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: buying lemons? (a) expense (b) income
34. 34.Kabir’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: bus fare to the market? (a) expense (b) income
36. 36.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) tutoring fees received (d) bus fare to the market
37. 37.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
38. 38.Kavya’s stall took in ₹370 on Friday, ₹230 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) buying lemons
40. 40.True or false: “paying the stall fee” is income (money in). (a) False (b) True

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