Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 115 · 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: “paying the stall fee” is an expense (money out). (a) True (b) False
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.Diya’s stall took in ₹240 on Friday, ₹300 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: payment for a cake order? (a) income (b) expense
5. 5.Zoya’s stall took in ₹360 on Friday, ₹200 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
6. 6.Ishaan’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹180 (card paper)
   Expense: ₹140 (ribbon)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: buying paper cups? (a) income (b) expense
8. 8.Aarav’s income was ₹210 and the profit was ₹160. One expense was ₹40 (posters). How much was the other expense, for lemons (in ₹)?
9. 9.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
10. 10.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) tutoring fees received (d) paying the stall fee
11. 11.Ishaan’s income was ₹380 and the profit was ₹150. One expense was ₹40 (transport). How much was the other expense, for stall fee (in ₹)?
12. 12.True or false: “printing posters” is income (money in). (a) False (b) True
13. 13.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
14. 14.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
15. 15.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) paying the stall fee
16. 16.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
17. 17.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
20. 20.Vihaan’s stall took in ₹210 on Friday, ₹120 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
21. 21.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
22. 22.📒 Income or expense: money from sales? (a) expense (b) income
23. 23.True or false: “a card order paid” is an expense (money out). (a) False (b) True
24. 24.Ishaan’s income was ₹140 and the profit was ₹50. One expense was ₹80 (lemons). How much was the other expense, for stall fee (in ₹)?
25. 25.Nisha’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
26. 26.Lakshmi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) bus fare to the market (d) payment for a cake order
28. 28.Ananya’s stall took in ₹280 on Friday, ₹220 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
29. 29.Aarav’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹270 (ribbon)
    How much is the loss (in ₹)?
30. 30.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹80 (transport)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
31. 31.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) cash from selling plants
32. 32.Vihaan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
33. 33.Ishaan’s income was ₹300 and the profit was ₹40. One expense was ₹220 (lemons). How much was the other expense, for ribbon (in ₹)?
34. 34.True or false: “buying paper cups” is income (money in). (a) False (b) True
35. 35.Kabir’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
36. 36.True or false: “buying lemons” is income (money in). (a) False (b) True
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) printing posters
38. 38.True or false: “cash from selling plants” is income (money in). (a) False (b) True
39. 39.Kavya’s income was ₹100 and the profit was ₹40. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
40. 40.Kavya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?

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