Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 403 · 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 ₹340 and the profit was ₹160. One expense was ₹30 (card paper). How much was the other expense, for stall fee (in ₹)?
2. 2.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) printing posters (d) bus fare to the market
3. 3.Zoya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹80 (card paper)
   Expense: ₹80 (lemons)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) a card order paid (d) buying lemons
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.True or false: “a card order paid” is income (money in). (a) False (b) True
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) a card order paid (d) buying lemons
8. 8.Kabir’s stall took in ₹210 on Friday, ₹290 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
10. 10.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
11. 11.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) money from sales (d) payment for a cake order
12. 12.📒 Income or expense: payment for a cake order? (a) income (b) expense
13. 13.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
14. 14.Kavya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
15. 15.Rohan’s stall took in ₹140 on Friday, ₹340 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: paying the stall fee? (a) income (b) expense
18. 18.Meera’s stall took in ₹390 on Friday, ₹190 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
19. 19.Saanvi’s income was ₹410 and the profit was ₹160. One expense was ₹180 (ribbon). How much was the other expense, for paper cups (in ₹)?
20. 20.True or false: “tutoring fees received” is income (money in). (a) False (b) True
21. 21.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹140 (posters)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: buying paper cups? (a) income (b) expense
23. 23.True or false: “buying lemons” is an expense (money out). (a) False (b) True
24. 24.Meera’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹50 (posters)
    Expense: ₹180 (lemons)
    How much is the loss (in ₹)?
25. 25.True or false: “bus fare to the market” is income (money in). (a) False (b) True
26. 26.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) cash from selling plants (d) printing posters
27. 27.True or false: “printing posters” is income (money in). (a) False (b) True
28. 28.Farhan’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) printing posters (d) buying paper cups
30. 30.Gurpreet’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
31. 31.Gurpreet’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) a card order paid (d) tutoring fees received
33. 33.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
34. 34.Arjun’s income was ₹380 and the profit was ₹110. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
36. 36.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
37. 37.Saanvi’s income was ₹270 and the profit was ₹120. One expense was ₹110 (transport). How much was the other expense, for stall fee (in ₹)?
38. 38.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) buying paper cups (d) money from sales
39. 39.Meera’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹190 (paper cups)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
40. 40.Zoya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?

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