Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 262 · 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.📒 Income or expense: printing posters? (a) income (b) expense
2. 2.Ishaan’s income was ₹190 and the profit was ₹150. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
3. 3.📒 Income or expense: payment for a cake order? (a) expense (b) income
4. 4.Ananya’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹30 (lemons)
   Expense: ₹290 (card paper)
   How much is the loss (in ₹)?
5. 5.Nisha’s record for the day:
   Income: ₹330 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹120 (paper cups)
   Expense: ₹100 (ribbon)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: cash from selling plants? (a) expense (b) income
7. 7.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying lemons (d) paying the stall fee
8. 8.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) money from sales (d) tutoring fees received
9. 9.📒 Income or expense: a card order paid? (a) expense (b) income
10. 10.Riya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
11. 11.Gurpreet’s income was ₹310 and the profit was ₹100. One expense was ₹90 (sugar). How much was the other expense, for posters (in ₹)?
12. 12.Ananya’s income was ₹160 and the profit was ₹10. One expense was ₹40 (stall fee). How much was the other expense, for card paper (in ₹)?
13. 13.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) tutoring fees received (d) a card order paid
14. 14.True or false: “a card order paid” is an expense (money out). (a) False (b) True
15. 15.📒 Income or expense: paying the stall fee? (a) expense (b) income
16. 16.Ananya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
18. 18.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) money from sales
19. 19.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
20. 20.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹280 (card paper)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
21. 21.True or false: “a card order paid” is income (money in). (a) False (b) True
22. 22.True or false: “buying lemons” is an expense (money out). (a) False (b) True
23. 23.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) payment for a cake order (d) paying the stall fee
24. 24.Meera’s stall took in ₹100 on Friday, ₹280 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
25. 25.Aarav’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
27. 27.Zoya’s income was ₹170 and the profit was ₹40. One expense was ₹60 (ribbon). How much was the other expense, for card paper (in ₹)?
28. 28.Diya’s income was ₹240 and the profit was ₹10. One expense was ₹140 (paper cups). How much was the other expense, for ribbon (in ₹)?
29. 29.Riya’s stall took in ₹80 on Friday, ₹50 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “cash from selling plants” is income (money in). (a) True (b) False
31. 31.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) printing posters (d) paying the stall fee
32. 32.Farhan’s income was ₹280 and the profit was ₹50. One expense was ₹70 (card paper). How much was the other expense, for stall fee (in ₹)?
33. 33.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
34. 34.Dev’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹220 (posters)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
35. 35.True or false: “printing posters” is an expense (money out). (a) False (b) True
36. 36.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) tutoring fees received (d) money from sales
37. 37.📒 Income or expense: tutoring fees received? (a) income (b) expense
38. 38.📒 Income or expense: bus fare to the market? (a) expense (b) income
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.Diya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?

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