Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 407 · 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.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
2. 2.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
3. 3.Arjun’s income was ₹360 and the profit was ₹230. One expense was ₹110 (paper cups). How much was the other expense, for sugar (in ₹)?
4. 4.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) paying the stall fee (d) buying lemons
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.True or false: “paying the stall fee” is income (money in). (a) True (b) False
7. 7.📒 Income or expense: buying lemons? (a) expense (b) income
8. 8.Saanvi’s record for the day:
   Income: ₹310 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹90 (ribbon)
   Expense: ₹140 (posters)
   What is the profit (in ₹)?
9. 9.Vihaan’s income was ₹350 and the profit was ₹110. One expense was ₹140 (stall fee). How much was the other expense, for card paper (in ₹)?
10. 10.📒 Income or expense: tutoring fees received? (a) expense (b) income
11. 11.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
12. 12.Ishaan’s income was ₹440 and the profit was ₹80. One expense was ₹100 (paper cups). How much was the other expense, for posters (in ₹)?
13. 13.Farhan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹190 (card paper)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
14. 14.True or false: “buying lemons” is income (money in). (a) True (b) False
15. 15.Zoya’s record for the day:
    Income: ₹490 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
16. 16.Farhan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
17. 17.Meera’s stall took in ₹270 on Friday, ₹210 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
18. 18.Saanvi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹110 (transport)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) tutoring fees received (d) buying lemons
20. 20.📒 Income or expense: payment for a cake order? (a) expense (b) income
21. 21.📒 Income or expense: buying paper cups? (a) expense (b) income
22. 22.Riya’s income was ₹330 and the profit was ₹180. One expense was ₹70 (ribbon). How much was the other expense, for sugar (in ₹)?
23. 23.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) payment for a cake order (d) a card order paid
24. 24.Arjun’s stall took in ₹340 on Friday, ₹340 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) printing posters (d) money from sales
26. 26.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
27. 27.True or false: “cash from selling plants” is income (money in). (a) True (b) False
28. 28.📒 Income or expense: paying the stall fee? (a) income (b) expense
29. 29.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
30. 30.True or false: “bus fare to the market” is income (money in). (a) False (b) True
31. 31.Nisha’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
32. 32.Lakshmi’s income was ₹150 and the profit was ₹80. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
33. 33.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) printing posters (d) bus fare to the market
34. 34.Aarav’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
35. 35.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) payment for a cake order (d) paying the stall fee
36. 36.📒 Income or expense: cash from selling plants? (a) income (b) expense
37. 37.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
38. 38.Rohan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: a card order paid? (a) income (b) expense
40. 40.Diya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?

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