Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 98 · 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) tutoring fees received (b) payment for a cake order (c) buying paper cups (d) cash from selling plants
2. 2.True or false: “paying the stall fee” is income (money in). (a) False (b) True
3. 3.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
4. 4.📒 Income or expense: a card order paid? (a) expense (b) income
5. 5.Tara’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹30 (posters)
   Expense: ₹160 (stall fee)
   What is the profit (in ₹)?
6. 6.True or false: “tutoring fees received” is income (money in). (a) False (b) True
7. 7.Dev’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹70 (transport)
   Expense: ₹170 (ribbon)
   What is the profit (in ₹)?
8. 8.Kavya’s stall took in ₹230 on Friday, ₹50 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) money from sales (d) buying lemons
10. 10.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
11. 11.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
12. 12.Joseph’s stall took in ₹330 on Friday, ₹230 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
13. 13.Ishaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹330 (transport)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
14. 14.Saanvi’s income was ₹500 and the profit was ₹90. One expense was ₹40 (card paper). How much was the other expense, for ribbon (in ₹)?
15. 15.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) printing posters
16. 16.📒 Income or expense: cash from selling plants? (a) expense (b) income
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying lemons (d) tutoring fees received
18. 18.True or false: “buying lemons” is an expense (money out). (a) True (b) False
19. 19.Dev’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
20. 20.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
21. 21.Tara’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
22. 22.Kabir’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: paying the stall fee? (a) income (b) expense
24. 24.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹130 (posters)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
25. 25.Kabir’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
26. 26.Tara’s stall took in ₹240 on Friday, ₹380 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
28. 28.Ananya’s stall took in ₹220 on Friday, ₹140 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) bus fare to the market
30. 30.Tara’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
31. 31.True or false: “money from sales” is income (money in). (a) False (b) True
32. 32.Zoya’s income was ₹200 and the profit was ₹110. One expense was ₹60 (card paper). How much was the other expense, for paper cups (in ₹)?
33. 33.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
34. 34.Vihaan’s record for the day:
    Income: ₹500 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) payment for a cake order (d) a card order paid
36. 36.Lakshmi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
37. 37.Lakshmi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
38. 38.Kavya’s income was ₹280 and the profit was ₹250. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
39. 39.📒 Income or expense: money from sales? (a) income (b) expense
40. 40.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) tutoring fees received (d) a card order paid

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