Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 982 · 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.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.True or false: “buying paper cups” is income (money in). (a) False (b) True
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) printing posters (d) bus fare to the market
5. 5.📒 Income or expense: a card order paid? (a) income (b) expense
6. 6.Nisha’s stall took in ₹210 on Friday, ₹370 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “cash from selling plants” is income (money in). (a) True (b) False
8. 8.Rohan’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹30 (sugar)
   Expense: ₹200 (transport)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
11. 11.Zoya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
12. 12.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹130 (posters)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
13. 13.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
14. 14.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
15. 15.True or false: “paying the stall fee” is income (money in). (a) True (b) False
16. 16.Saanvi’s income was ₹130 and the profit was ₹60. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) income (b) expense
18. 18.Dev’s income was ₹380 and the profit was ₹180. One expense was ₹170 (lemons). How much was the other expense, for sugar (in ₹)?
19. 19.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying paper cups (d) paying the stall fee
20. 20.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
21. 21.Nisha’s stall took in ₹340 on Friday, ₹140 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
22. 22.Kabir’s income was ₹480 and the profit was ₹130. One expense was ₹40 (lemons). How much was the other expense, for stall fee (in ₹)?
23. 23.True or false: “buying lemons” is an expense (money out). (a) False (b) True
24. 24.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
25. 25.Meera’s income was ₹360 and the profit was ₹90. One expense was ₹110 (card paper). How much was the other expense, for stall fee (in ₹)?
26. 26.📒 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
27. 27.Gurpreet’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
28. 28.Saanvi’s stall took in ₹120 on Friday, ₹240 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “money from sales” is income (money in). (a) False (b) True
30. 30.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) tutoring fees received (d) paying the stall fee
31. 31.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) money from sales (d) paying the stall fee
32. 32.Gurpreet’s income was ₹140 and the profit was ₹20. One expense was ₹60 (sugar). How much was the other expense, for paper cups (in ₹)?
33. 33.Joseph’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: buying paper cups? (a) income (b) expense
35. 35.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
36. 36.Rohan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
37. 37.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
38. 38.Zoya’s stall took in ₹200 on Friday, ₹60 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
39. 39.Kavya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
40. 40.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) bus fare to the market (d) tutoring fees received

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