Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 518 · 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.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) buying paper cups
2. 2.True or false: “payment for a cake order” is income (money in). (a) True (b) False
3. 3.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
4. 4.True or false: “buying lemons” is income (money in). (a) False (b) True
5. 5.Rohan’s stall took in ₹170 on Friday, ₹140 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
6. 6.Diya’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹400 (evening sales)
   Expense: ₹60 (sugar)
   Expense: ₹170 (ribbon)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.Vihaan’s stall took in ₹70 on Friday, ₹380 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “cash from selling plants” is income (money in). (a) False (b) True
10. 10.📒 Income or expense: tutoring fees received? (a) expense (b) income
11. 11.True or false: “printing posters” is an expense (money out). (a) False (b) True
12. 12.Gurpreet’s income was ₹330 and the profit was ₹180. One expense was ₹60 (stall fee). How much was the other expense, for paper cups (in ₹)?
13. 13.Lakshmi’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
14. 14.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) paying the stall fee (d) buying lemons
15. 15.Lakshmi’s income was ₹120 and the profit was ₹80. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) bus fare to the market
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) printing posters (d) a card order paid
18. 18.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
19. 19.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
20. 20.Kabir’s stall took in ₹80 on Friday, ₹360 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
22. 22.Joseph’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
23. 23.Farhan’s stall took in ₹320 on Friday, ₹350 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: paying the stall fee? (a) income (b) expense
25. 25.Lakshmi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (posters)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
26. 26.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) a card order paid (d) cash from selling plants
27. 27.Meera’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
28. 28.Kavya’s income was ₹250 and the profit was ₹50. One expense was ₹130 (ribbon). How much was the other expense, for lemons (in ₹)?
29. 29.Joseph’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹310 (transport)
    How much is the loss (in ₹)?
30. 30.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying lemons (d) bus fare to the market
31. 31.Farhan’s income was ₹100 and the profit was ₹30. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
32. 32.True or false: “printing posters” is income (money in). (a) True (b) False
33. 33.Dev’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
34. 34.Farhan’s income was ₹150 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
35. 35.📒 Income or expense: buying paper cups? (a) expense (b) income
36. 36.Aarav’s stall took in ₹160 on Friday, ₹230 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
38. 38.Meera’s stall took in ₹300 on Friday, ₹60 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
39. 39.Joseph’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
40. 40.Zoya’s income was ₹320 and the profit was ₹150. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?

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