Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 629 · 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: “tutoring fees received” is income (money in). (a) True (b) False
2. 2.Lakshmi’s stall took in ₹350 on Friday, ₹130 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
3. 3.Rohan’s income was ₹410 and the profit was ₹360. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
4. 4.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
5. 5.📒 Income or expense: money from sales? (a) expense (b) income
6. 6.📒 Income or expense: payment for a cake order? (a) expense (b) income
7. 7.📒 Income or expense: paying the stall fee? (a) expense (b) income
8. 8.📒 Income or expense: buying lemons? (a) income (b) expense
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.True or false: “a card order paid” is an expense (money out). (a) True (b) False
11. 11.Vihaan’s stall took in ₹60 on Friday, ₹80 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
12. 12.Gurpreet’s income was ₹150 and the profit was ₹40. One expense was ₹30 (transport). How much was the other expense, for lemons (in ₹)?
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) a card order paid (d) cash from selling plants
14. 14.True or false: “printing posters” is income (money in). (a) True (b) False
15. 15.Aarav’s income was ₹200 and the profit was ₹110. One expense was ₹80 (paper cups). How much was the other expense, for posters (in ₹)?
16. 16.📒 Income or expense: cash from selling plants? (a) income (b) expense
17. 17.Dev’s income was ₹480 and the profit was ₹150. One expense was ₹200 (lemons). How much was the other expense, for transport (in ₹)?
18. 18.Kabir’s income was ₹370 and the profit was ₹120. One expense was ₹140 (transport). How much was the other expense, for sugar (in ₹)?
19. 19.True or false: “payment for a cake order” is income (money in). (a) False (b) True
20. 20.Vihaan’s stall took in ₹80 on Friday, ₹330 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “bus fare to the market” is income (money in). (a) True (b) False
22. 22.📒 Income or expense: bus fare to the market? (a) income (b) expense
23. 23.Saanvi’s income was ₹220 and the profit was ₹180. One expense was ₹30 (ribbon). How much was the other expense, for lemons (in ₹)?
24. 24.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) tutoring fees received (d) payment for a cake order
25. 25.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying lemons (d) buying paper cups
26. 26.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
27. 27.True or false: “cash from selling plants” is income (money in). (a) False (b) True
28. 28.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
29. 29.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) cash from selling plants (d) payment for a cake order
30. 30.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) money from sales (d) paying the stall fee
31. 31.Gurpreet’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
32. 32.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) payment for a cake order (d) money from sales
33. 33.Dev’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
34. 34.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) printing posters (d) a card order paid
35. 35.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹230 (ribbon)
    Expense: ₹150 (card paper)
    How much is the loss (in ₹)?
36. 36.Aarav’s income was ₹310 and the profit was ₹10. One expense was ₹40 (paper cups). How much was the other expense, for posters (in ₹)?
37. 37.Rohan’s stall took in ₹250 on Friday, ₹280 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
38. 38.Riya’s income was ₹320 and the profit was ₹10. One expense was ₹80 (paper cups). How much was the other expense, for card paper (in ₹)?
39. 39.Kavya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
40. 40.📒 Income or expense: printing posters? (a) income (b) expense

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