Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 140 · 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: “printing posters” is an expense (money out). (a) False (b) True
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) payment for a cake order (b) buying lemons (c) paying the stall fee (d) buying paper cups
4. 4.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
5. 5.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
6. 6.Ishaan’s income was ₹140 and the profit was ₹10. One expense was ₹60 (card paper). How much was the other expense, for sugar (in ₹)?
7. 7.Tara’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹140 (sugar)
   Expense: ₹220 (stall fee)
   How much is the loss (in ₹)?
8. 8.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) printing posters (d) tutoring fees received
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.Ananya’s stall took in ₹340 on Friday, ₹220 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
11. 11.📒 Income or expense: a card order paid? (a) expense (b) income
12. 12.Zoya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹110 (transport)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
13. 13.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) paying the stall fee
14. 14.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying lemons (d) money from sales
15. 15.📒 Income or expense: money from sales? (a) expense (b) income
16. 16.True or false: “money from sales” is an expense (money out). (a) False (b) True
17. 17.Nisha’s income was ₹280 and the profit was ₹30. One expense was ₹170 (card paper). How much was the other expense, for posters (in ₹)?
18. 18.Aarav’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹190 (card paper)
    How much is the loss (in ₹)?
19. 19.Riya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹270 (posters)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: printing posters? (a) income (b) expense
21. 21.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
22. 22.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
23. 23.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹290 (paper cups)
    How much is the loss (in ₹)?
24. 24.Dev’s income was ₹240 and the profit was ₹170. One expense was ₹50 (sugar). How much was the other expense, for paper cups (in ₹)?
25. 25.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
26. 26.Aarav’s stall took in ₹140 on Friday, ₹220 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) a card order paid (d) money from sales
28. 28.Farhan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: paying the stall fee? (a) income (b) expense
30. 30.Arjun’s stall took in ₹330 on Friday, ₹120 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
31. 31.Aarav’s stall took in ₹330 on Friday, ₹150 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) buying lemons (d) printing posters
33. 33.True or false: “money from sales” is income (money in). (a) True (b) False
34. 34.Dev’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
35. 35.Ishaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
36. 36.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹210 (stall fee)
    How much is the loss (in ₹)?
37. 37.Nisha’s income was ₹370 and the profit was ₹310. One expense was ₹40 (lemons). How much was the other expense, for stall fee (in ₹)?
38. 38.Farhan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
39. 39.Diya’s stall took in ₹320 on Friday, ₹330 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
40. 40.Farhan’s stall took in ₹150 on Friday, ₹80 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?

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