Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 537 · 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.Aarav’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹100 (paper cups)
   Expense: ₹40 (lemons)
   How much is the loss (in ₹)?
2. 2.Rohan’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹60 (paper cups)
   Expense: ₹80 (transport)
   What is the profit (in ₹)?
3. 3.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) bus fare to the market (d) paying the stall fee
4. 4.Aarav’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹360 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹190 (stall fee)
   What is the profit (in ₹)?
5. 5.True or false: “buying paper cups” is income (money in). (a) False (b) True
6. 6.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
7. 7.Saanvi’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹10 (paper cups)
   Expense: ₹270 (posters)
   How much is the loss (in ₹)?
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) a card order paid (d) printing posters
9. 9.Aarav’s stall took in ₹190 on Friday, ₹360 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
10. 10.Lakshmi’s stall took in ₹350 on Friday, ₹60 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
11. 11.Diya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
12. 12.Farhan’s income was ₹350 and the profit was ₹300. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
13. 13.Vihaan’s income was ₹240 and the profit was ₹210. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) buying paper cups
15. 15.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) tutoring fees received
16. 16.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) bus fare to the market (d) money from sales
17. 17.Riya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹300 (card paper)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
18. 18.True or false: “bus fare to the market” is income (money in). (a) False (b) True
19. 19.True or false: “cash from selling plants” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: buying lemons? (a) income (b) expense
21. 21.Ananya’s income was ₹160 and the profit was ₹110. One expense was ₹40 (stall fee). How much was the other expense, for lemons (in ₹)?
22. 22.📒 Income or expense: tutoring fees received? (a) expense (b) income
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) cash from selling plants (d) paying the stall fee
24. 24.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) payment for a cake order (d) cash from selling plants
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.True or false: “paying the stall fee” is income (money in). (a) False (b) True
27. 27.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
28. 28.True or false: “payment for a cake order” is income (money in). (a) False (b) True
29. 29.Aarav’s stall took in ₹180 on Friday, ₹300 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
31. 31.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) a card order paid (d) paying the stall fee
32. 32.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
33. 33.True or false: “buying lemons” is income (money in). (a) False (b) True
34. 34.True or false: “tutoring fees received” is income (money in). (a) False (b) True
35. 35.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying paper cups (d) bus fare to the market
36. 36.True or false: “a card order paid” is income (money in). (a) True (b) False
37. 37.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
38. 38.Aarav’s income was ₹120 and the profit was ₹70. One expense was ₹30 (stall fee). How much was the other expense, for lemons (in ₹)?
39. 39.Zoya’s income was ₹250 and the profit was ₹160. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?
40. 40.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹200 (transport)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?

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