Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 558 · 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: “printing posters” is income (money in). (a) True (b) False
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) payment for a cake order
3. 3.Vihaan’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹190 (lemons)
   Expense: ₹110 (stall fee)
   How much is the loss (in ₹)?
4. 4.Diya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹330 (card paper)
   Expense: ₹10 (lemons)
   How much is the loss (in ₹)?
5. 5.Gurpreet’s income was ₹120 and the profit was ₹80. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
6. 6.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) printing posters (d) cash from selling plants
8. 8.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) money from sales (d) buying lemons
9. 9.Rohan’s income was ₹340 and the profit was ₹200. One expense was ₹60 (posters). How much was the other expense, for transport (in ₹)?
10. 10.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) tutoring fees received
11. 11.📒 Income or expense: tutoring fees received? (a) expense (b) income
12. 12.Lakshmi’s income was ₹410 and the profit was ₹20. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
13. 13.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
14. 14.📒 Income or expense: buying lemons? (a) income (b) expense
15. 15.Dev’s stall took in ₹160 on Friday, ₹390 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
16. 16.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) printing posters (d) buying paper cups
17. 17.📒 Income or expense: buying paper cups? (a) income (b) expense
18. 18.Tara’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
19. 19.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹520 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
22. 22.Nisha’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹20 (transport)
    Expense: ₹340 (stall fee)
    How much is the loss (in ₹)?
23. 23.Saanvi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹200 (ribbon)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
24. 24.Aarav’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
25. 25.Kabir’s income was ₹190 and the profit was ₹110. One expense was ₹70 (posters). How much was the other expense, for stall fee (in ₹)?
26. 26.True or false: “buying lemons” is income (money in). (a) True (b) False
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) bus fare to the market (d) tutoring fees received
28. 28.True or false: “tutoring fees received” is income (money in). (a) False (b) True
29. 29.True or false: “cash from selling plants” is income (money in). (a) False (b) True
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) payment for a cake order
31. 31.Ishaan’s income was ₹450 and the profit was ₹150. One expense was ₹140 (sugar). How much was the other expense, for paper cups (in ₹)?
32. 32.Aarav’s income was ₹430 and the profit was ₹140. One expense was ₹80 (ribbon). How much was the other expense, for stall fee (in ₹)?
33. 33.Aarav’s income was ₹100 and the profit was ₹40. One expense was ₹30 (lemons). How much was the other expense, for card paper (in ₹)?
34. 34.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) paying the stall fee
35. 35.Rohan’s income was ₹190 and the profit was ₹120. One expense was ₹50 (posters). How much was the other expense, for sugar (in ₹)?
36. 36.Diya’s income was ₹380 and the profit was ₹100. One expense was ₹220 (stall fee). How much was the other expense, for posters (in ₹)?
37. 37.True or false: “bus fare to the market” is income (money in). (a) False (b) True
38. 38.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
39. 39.True or false: “printing posters” is an expense (money out). (a) True (b) False
40. 40.Nisha’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?

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