Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 493 · 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 ₹500 and the profit was ₹360. One expense was ₹80 (sugar). 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.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) a card order paid
4. 4.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
5. 5.Aarav’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹70 (ribbon)
   Expense: ₹130 (lemons)
   What is the profit (in ₹)?
6. 6.Gurpreet’s stall took in ₹370 on Friday, ₹340 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
7. 7.📒 Income or expense: printing posters? (a) expense (b) income
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) paying the stall fee (d) cash from selling plants
9. 9.Ananya’s income was ₹460 and the profit was ₹70. One expense was ₹280 (lemons). How much was the other expense, for stall fee (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) expense (b) income
11. 11.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
12. 12.Joseph’s income was ₹100 and the profit was ₹10. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
13. 13.Farhan’s stall took in ₹50 on Friday, ₹90 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
14. 14.Dev’s income was ₹120 and the profit was ₹40. One expense was ₹60 (ribbon). How much was the other expense, for stall fee (in ₹)?
15. 15.True or false: “cash from selling plants” is income (money in). (a) False (b) True
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) bus fare to the market (d) printing posters
18. 18.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) printing posters (d) cash from selling plants
19. 19.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) tutoring fees received (d) money from sales
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) cash from selling plants (d) paying the stall fee
21. 21.Gurpreet’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) payment for a cake order (d) cash from selling plants
23. 23.True or false: “buying lemons” is income (money in). (a) False (b) True
24. 24.📒 Income or expense: tutoring fees received? (a) expense (b) income
25. 25.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
26. 26.Rohan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
27. 27.Lakshmi’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
28. 28.Saanvi’s stall took in ₹230 on Friday, ₹120 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
29. 29.Rohan’s stall took in ₹170 on Friday, ₹180 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “buying paper cups” is income (money in). (a) False (b) True
31. 31.Arjun’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) buying paper cups (d) buying lemons
33. 33.Nisha’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
34. 34.Vihaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
35. 35.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
36. 36.Lakshmi’s income was ₹310 and the profit was ₹80. One expense was ₹20 (posters). How much was the other expense, for card paper (in ₹)?
37. 37.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying lemons (d) buying paper cups
38. 38.True or false: “payment for a cake order” is income (money in). (a) False (b) True
39. 39.📒 Income or expense: buying paper cups? (a) income (b) expense
40. 40.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹60 (posters)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?

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