Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 184 · 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.Ananya’s income was ₹390 and the profit was ₹150. One expense was ₹30 (ribbon). How much was the other expense, for stall fee (in ₹)?
2. 2.📒 Income or expense: a card order paid? (a) income (b) expense
3. 3.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) bus fare to the market
4. 4.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
5. 5.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying paper cups (d) cash from selling plants
6. 6.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
7. 7.Rohan’s stall took in ₹400 on Friday, ₹370 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
9. 9.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
10. 10.📒 Income or expense: printing posters? (a) expense (b) income
11. 11.📒 Income or expense: payment for a cake order? (a) expense (b) income
12. 12.Ananya’s income was ₹300 and the profit was ₹180. One expense was ₹110 (paper cups). How much was the other expense, for stall fee (in ₹)?
13. 13.Ishaan’s stall took in ₹270 on Friday, ₹240 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: buying paper cups? (a) expense (b) income
15. 15.True or false: “money from sales” is income (money in). (a) True (b) False
16. 16.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) a card order paid (d) tutoring fees received
17. 17.True or false: “cash from selling plants” is income (money in). (a) True (b) False
18. 18.Ananya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
19. 19.Aarav’s stall took in ₹240 on Friday, ₹190 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
20. 20.📒 Income or expense: buying lemons? (a) income (b) expense
21. 21.True or false: “tutoring fees received” is income (money in). (a) True (b) False
22. 22.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
23. 23.Vihaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹170 (posters)
    How much is the loss (in ₹)?
24. 24.True or false: “money from sales” is an expense (money out). (a) False (b) True
25. 25.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
26. 26.Saanvi’s income was ₹200 and the profit was ₹90. One expense was ₹90 (stall fee). How much was the other expense, for posters (in ₹)?
27. 27.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying lemons (d) buying paper cups
28. 28.Ishaan’s income was ₹500 and the profit was ₹80. One expense was ₹380 (ribbon). How much was the other expense, for lemons (in ₹)?
29. 29.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) money from sales
30. 30.Kavya’s stall took in ₹350 on Friday, ₹270 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: money from sales? (a) income (b) expense
32. 32.Rohan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
33. 33.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
34. 34.Arjun’s income was ₹280 and the profit was ₹200. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
35. 35.Lakshmi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
36. 36.Zoya’s income was ₹360 and the profit was ₹250. One expense was ₹100 (lemons). How much was the other expense, for ribbon (in ₹)?
37. 37.📒 Income or expense: paying the stall fee? (a) expense (b) income
38. 38.Rohan’s stall took in ₹230 on Friday, ₹200 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
39. 39.Vihaan’s income was ₹160 and the profit was ₹10. One expense was ₹60 (card paper). How much was the other expense, for stall fee (in ₹)?
40. 40.Riya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?

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