Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 422 · 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.📒 Income or expense: payment for a cake order? (a) income (b) expense
2. 2.Ishaan’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹280 (ribbon)
   Expense: ₹10 (paper cups)
   How much is the loss (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
4. 4.Aarav’s income was ₹170 and the profit was ₹20. One expense was ₹120 (stall fee). How much was the other expense, for lemons (in ₹)?
5. 5.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) cash from selling plants (d) a card order paid
6. 6.True or false: “cash from selling plants” is income (money in). (a) True (b) False
7. 7.True or false: “printing posters” is an expense (money out). (a) False (b) True
8. 8.Gurpreet’s income was ₹260 and the profit was ₹110. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
9. 9.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) paying the stall fee
10. 10.Meera’s stall took in ₹80 on Friday, ₹100 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
11. 11.📒 Income or expense: buying lemons? (a) income (b) expense
12. 12.Kavya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying lemons (d) bus fare to the market
15. 15.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
16. 16.📒 Income or expense: buying paper cups? (a) expense (b) income
17. 17.Kavya’s income was ₹250 and the profit was ₹180. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
18. 18.Meera’s income was ₹130 and the profit was ₹60. One expense was ₹60 (ribbon). How much was the other expense, for paper cups (in ₹)?
19. 19.Joseph’s stall took in ₹400 on Friday, ₹290 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
20. 20.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
21. 21.Ananya’s stall took in ₹310 on Friday, ₹100 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “money from sales” is an expense (money out). (a) True (b) False
23. 23.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
24. 24.Farhan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
25. 25.Meera’s income was ₹120 and the profit was ₹20. One expense was ₹80 (lemons). How much was the other expense, for transport (in ₹)?
26. 26.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
27. 27.📒 Income or expense: tutoring fees received? (a) income (b) expense
28. 28.Kavya’s stall took in ₹100 on Friday, ₹310 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
29. 29.Ishaan’s income was ₹110 and the profit was ₹50. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
30. 30.Gurpreet’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
31. 31.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
32. 32.True or false: “printing posters” is income (money in). (a) False (b) True
33. 33.Ishaan’s income was ₹280 and the profit was ₹80. One expense was ₹90 (card paper). How much was the other expense, for paper cups (in ₹)?
34. 34.Nisha’s income was ₹240 and the profit was ₹220. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
35. 35.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying lemons (d) bus fare to the market
36. 36.True or false: “tutoring fees received” is income (money in). (a) False (b) True
37. 37.True or false: “buying lemons” is income (money in). (a) True (b) False
38. 38.Farhan’s income was ₹110 and the profit was ₹30. One expense was ₹30 (transport). How much was the other expense, for posters (in ₹)?
39. 39.Meera’s stall took in ₹220 on Friday, ₹90 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “buying lemons” is an expense (money out). (a) True (b) False

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