Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 286 · 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 income was ₹160 and the profit was ₹80. One expense was ₹60 (paper cups). How much was the other expense, for stall fee (in ₹)?
2. 2.📒 Income or expense: money from sales? (a) income (b) expense
3. 3.📒 Income or expense: bus fare to the market? (a) income (b) expense
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.Meera’s income was ₹280 and the profit was ₹160. One expense was ₹30 (stall fee). How much was the other expense, for transport (in ₹)?
6. 6.Lakshmi’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹110 (card paper)
   Expense: ₹90 (lemons)
   How much is the loss (in ₹)?
7. 7.Ananya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹60 (paper cups)
   Expense: ₹90 (ribbon)
   How much is the loss (in ₹)?
8. 8.True or false: “paying the stall fee” is income (money in). (a) False (b) True
9. 9.Lakshmi’s stall took in ₹350 on Friday, ₹210 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) buying lemons
11. 11.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
12. 12.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) cash from selling plants (d) money from sales
13. 13.Riya’s stall took in ₹90 on Friday, ₹210 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) bus fare to the market (d) paying the stall fee
15. 15.Kavya’s stall took in ₹230 on Friday, ₹310 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
16. 16.Diya’s income was ₹240 and the profit was ₹210. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) buying paper cups (d) payment for a cake order
18. 18.Kabir’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (posters)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
19. 19.Nisha’s income was ₹490 and the profit was ₹250. One expense was ₹170 (stall fee). How much was the other expense, for ribbon (in ₹)?
20. 20.Vihaan’s income was ₹130 and the profit was ₹110. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
21. 21.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
22. 22.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) cash from selling plants (d) payment for a cake order
23. 23.📒 Income or expense: tutoring fees received? (a) expense (b) income
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.True or false: “a card order paid” is an expense (money out). (a) True (b) False
26. 26.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) paying the stall fee (d) a card order paid
27. 27.Riya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
28. 28.Aarav’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹180 (posters)
    How much is the loss (in ₹)?
29. 29.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
30. 30.Gurpreet’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
31. 31.Saanvi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
33. 33.Saanvi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
34. 34.Vihaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹210 (card paper)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
35. 35.Rohan’s income was ₹420 and the profit was ₹250. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?
36. 36.True or false: “money from sales” is an expense (money out). (a) False (b) True
37. 37.True or false: “buying lemons” is an expense (money out). (a) False (b) True
38. 38.True or false: “bus fare to the market” is income (money in). (a) False (b) True
39. 39.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
40. 40.Joseph’s income was ₹190 and the profit was ₹30. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?

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