Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 634 · 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 ₹310 and the profit was ₹70. One expense was ₹80 (ribbon). How much was the other expense, for card paper (in ₹)?
2. 2.True or false: “paying the stall fee” is income (money in). (a) True (b) False
3. 3.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) money from sales (d) a card order paid
4. 4.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
5. 5.Lakshmi’s stall took in ₹250 on Friday, ₹110 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
7. 7.📒 Income or expense: paying the stall fee? (a) expense (b) income
8. 8.Zoya’s stall took in ₹90 on Friday, ₹110 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) printing posters (d) bus fare to the market
10. 10.📒 Income or expense: money from sales? (a) income (b) expense
11. 11.Kavya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
12. 12.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
13. 13.📒 Income or expense: bus fare to the market? (a) income (b) expense
14. 14.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
15. 15.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
16. 16.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
17. 17.True or false: “printing posters” is an expense (money out). (a) True (b) False
18. 18.Farhan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
19. 19.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹80 (posters)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
20. 20.Diya’s income was ₹230 and the profit was ₹120. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.Riya’s income was ₹430 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying paper cups (d) printing posters
24. 24.Rohan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
25. 25.Farhan’s income was ₹390 and the profit was ₹40. One expense was ₹90 (paper cups). How much was the other expense, for card paper (in ₹)?
26. 26.Rohan’s stall took in ₹170 on Friday, ₹60 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
28. 28.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) payment for a cake order (d) cash from selling plants
29. 29.Saanvi’s income was ₹140 and the profit was ₹40. One expense was ₹80 (ribbon). How much was the other expense, for paper cups (in ₹)?
30. 30.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) printing posters (d) buying lemons
31. 31.📒 Income or expense: buying lemons? (a) expense (b) income
32. 32.Dev’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (posters)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
33. 33.Meera’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
34. 34.Gurpreet’s income was ₹500 and the profit was ₹50. One expense was ₹180 (paper cups). How much was the other expense, for lemons (in ₹)?
35. 35.True or false: “buying lemons” is income (money in). (a) False (b) True
36. 36.Dev’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹240 (card paper)
    How much is the loss (in ₹)?
37. 37.Saanvi’s income was ₹420 and the profit was ₹210. One expense was ₹50 (lemons). How much was the other expense, for card paper (in ₹)?
38. 38.True or false: “money from sales” is income (money in). (a) True (b) False
39. 39.True or false: “printing posters” is income (money in). (a) True (b) False
40. 40.True or false: “cash from selling plants” is income (money in). (a) False (b) True

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