Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 167 · 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.Lakshmi’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹80 (stall fee)
   Expense: ₹160 (paper cups)
   How much is the loss (in ₹)?
2. 2.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) cash from selling plants (d) payment for a cake order
3. 3.Zoya’s income was ₹340 and the profit was ₹180. One expense was ₹110 (sugar). How much was the other expense, for ribbon (in ₹)?
4. 4.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) printing posters (d) money from sales
5. 5.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
6. 6.True or false: “buying lemons” is income (money in). (a) False (b) True
7. 7.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) tutoring fees received (d) money from sales
8. 8.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
9. 9.True or false: “cash from selling plants” is income (money in). (a) False (b) True
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) tutoring fees received
11. 11.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) printing posters (d) buying lemons
13. 13.Dev’s stall took in ₹210 on Friday, ₹100 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: bus fare to the market? (a) income (b) expense
15. 15.Saanvi’s income was ₹240 and the profit was ₹90. One expense was ₹70 (posters). How much was the other expense, for ribbon (in ₹)?
16. 16.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
17. 17.📒 Income or expense: a card order paid? (a) expense (b) income
18. 18.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
19. 19.📒 Income or expense: tutoring fees received? (a) income (b) expense
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Aarav’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
22. 22.Joseph’s income was ₹180 and the profit was ₹120. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
23. 23.📒 Income or expense: paying the stall fee? (a) income (b) expense
24. 24.📒 Income or expense: buying lemons? (a) expense (b) income
25. 25.True or false: “payment for a cake order” is income (money in). (a) True (b) False
26. 26.True or false: “bus fare to the market” is income (money in). (a) False (b) True
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.Rohan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
29. 29.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) paying the stall fee
30. 30.True or false: “tutoring fees received” is income (money in). (a) True (b) False
31. 31.Aarav’s income was ₹330 and the profit was ₹140. One expense was ₹70 (sugar). How much was the other expense, for paper cups (in ₹)?
32. 32.📒 Income or expense: money from sales? (a) income (b) expense
33. 33.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying lemons (d) bus fare to the market
34. 34.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
35. 35.Dev’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
36. 36.Tara’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: payment for a cake order? (a) expense (b) income
38. 38.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) bus fare to the market (d) paying the stall fee
39. 39.Farhan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
40. 40.Diya’s stall took in ₹130 on Friday, ₹300 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?

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