Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 404 · 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.Meera’s income was ₹190 and the profit was ₹150. One expense was ₹30 (ribbon). How much was the other expense, for lemons (in ₹)?
2. 2.True or false: “buying lemons” is an expense (money out). (a) False (b) True
3. 3.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
4. 4.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) printing posters (d) a card order paid
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) paying the stall fee (d) money from sales
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.True or false: “payment for a cake order” is income (money in). (a) True (b) False
8. 8.📒 Income or expense: buying lemons? (a) expense (b) income
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
10. 10.Tara’s income was ₹140 and the profit was ₹10. One expense was ₹30 (transport). How much was the other expense, for ribbon (in ₹)?
11. 11.True or false: “printing posters” is income (money in). (a) False (b) True
12. 12.Farhan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹200 (posters)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
13. 13.Joseph’s stall took in ₹210 on Friday, ₹90 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
14. 14.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
15. 15.📒 Income or expense: buying paper cups? (a) income (b) expense
16. 16.True or false: “money from sales” is income (money in). (a) False (b) True
17. 17.📒 Income or expense: money from sales? (a) expense (b) income
18. 18.Ishaan’s income was ₹200 and the profit was ₹50. One expense was ₹60 (stall fee). How much was the other expense, for transport (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
20. 20.Farhan’s income was ₹320 and the profit was ₹160. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
21. 21.Vihaan’s income was ₹270 and the profit was ₹160. One expense was ₹20 (transport). How much was the other expense, for card paper (in ₹)?
22. 22.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
23. 23.Meera’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
24. 24.Gurpreet’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: printing posters? (a) expense (b) income
26. 26.Ananya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹230 (ribbon)
    How much is the loss (in ₹)?
27. 27.Diya’s stall took in ₹110 on Friday, ₹110 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) buying lemons (d) printing posters
29. 29.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) money from sales (d) buying lemons
30. 30.Gurpreet’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
31. 31.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) paying the stall fee (d) buying paper cups
32. 32.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
33. 33.Nisha’s stall took in ₹280 on Friday, ₹240 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) bus fare to the market
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
36. 36.Farhan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
37. 37.Rohan’s stall took in ₹110 on Friday, ₹50 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
38. 38.Rohan’s stall took in ₹330 on Friday, ₹120 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) expense (b) income
40. 40.Kabir’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?

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