Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 288 · 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.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying paper cups (d) money from sales
2. 2.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) buying lemons (d) buying paper cups
3. 3.Meera’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹70 (paper cups)
   Expense: ₹180 (lemons)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) money from sales
5. 5.Ishaan’s income was ₹400 and the profit was ₹380. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
6. 6.📒 Income or expense: tutoring fees received? (a) income (b) expense
7. 7.Nisha’s income was ₹110 and the profit was ₹80. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
9. 9.True or false: “money from sales” is an expense (money out). (a) True (b) False
10. 10.Tara’s income was ₹490 and the profit was ₹240. One expense was ₹190 (card paper). How much was the other expense, for transport (in ₹)?
11. 11.Lakshmi’s stall took in ₹370 on Friday, ₹100 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
13. 13.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
14. 14.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
15. 15.Nisha’s income was ₹220 and the profit was ₹110. One expense was ₹20 (paper cups). How much was the other expense, for card paper (in ₹)?
16. 16.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) payment for a cake order (d) tutoring fees received
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) cash from selling plants (d) money from sales
18. 18.Farhan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
19. 19.Lakshmi’s stall took in ₹340 on Friday, ₹290 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “tutoring fees received” is income (money in). (a) True (b) False
21. 21.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
23. 23.True or false: “printing posters” is an expense (money out). (a) True (b) False
24. 24.Zoya’s income was ₹390 and the profit was ₹140. One expense was ₹80 (sugar). How much was the other expense, for card paper (in ₹)?
25. 25.📒 Income or expense: buying paper cups? (a) income (b) expense
26. 26.Joseph’s stall took in ₹250 on Friday, ₹330 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “cash from selling plants” is income (money in). (a) False (b) True
28. 28.Meera’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
29. 29.Aarav’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
30. 30.Ananya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) payment for a cake order (d) tutoring fees received
32. 32.Dev’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹240 (card paper)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
33. 33.Riya’s stall took in ₹350 on Friday, ₹310 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
34. 34.📒 Income or expense: cash from selling plants? (a) expense (b) income
35. 35.📒 Income or expense: paying the stall fee? (a) expense (b) income
36. 36.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
37. 37.Diya’s income was ₹310 and the profit was ₹150. One expense was ₹150 (posters). How much was the other expense, for sugar (in ₹)?
38. 38.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
39. 39.Lakshmi’s income was ₹440 and the profit was ₹240. One expense was ₹160 (paper cups). How much was the other expense, for ribbon (in ₹)?
40. 40.Gurpreet’s income was ₹200 and the profit was ₹170. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?

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