Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 679 · 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.📒 Income or expense: buying paper cups? (a) expense (b) income
2. 2.Saanvi’s income was ₹360 and the profit was ₹80. One expense was ₹220 (posters). How much was the other expense, for lemons (in ₹)?
3. 3.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) buying lemons (d) tutoring fees received
4. 4.True or false: “bus fare to the market” is income (money in). (a) False (b) True
5. 5.Aarav’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹70 (card paper)
   Expense: ₹250 (posters)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: cash from selling plants? (a) expense (b) income
7. 7.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
8. 8.Arjun’s stall took in ₹200 on Friday, ₹340 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
9. 9.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
10. 10.Tara’s stall took in ₹90 on Friday, ₹60 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “paying the stall fee” is income (money in). (a) True (b) False
12. 12.📒 Income or expense: a card order paid? (a) expense (b) income
13. 13.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) money from sales (d) paying the stall fee
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) bus fare to the market
15. 15.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
16. 16.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: payment for a cake order? (a) expense (b) income
18. 18.📒 Income or expense: money from sales? (a) income (b) expense
19. 19.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) payment for a cake order (d) a card order paid
20. 20.Lakshmi’s income was ₹210 and the profit was ₹100. One expense was ₹20 (transport). How much was the other expense, for ribbon (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
22. 22.Meera’s stall took in ₹300 on Friday, ₹340 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
23. 23.Arjun’s income was ₹310 and the profit was ₹40. One expense was ₹150 (posters). How much was the other expense, for lemons (in ₹)?
24. 24.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) tutoring fees received (d) payment for a cake order
25. 25.Kabir’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
26. 26.Diya’s income was ₹270 and the profit was ₹90. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
27. 27.Arjun’s income was ₹340 and the profit was ₹220. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
28. 28.Joseph’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹200 (transport)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
29. 29.True or false: “buying lemons” is income (money in). (a) True (b) False
30. 30.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
31. 31.True or false: “buying lemons” is an expense (money out). (a) False (b) True
32. 32.Ananya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
33. 33.Aarav’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹280 (card paper)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
34. 34.Diya’s stall took in ₹100 on Friday, ₹290 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “money from sales” is income (money in). (a) False (b) True
36. 36.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
37. 37.Vihaan’s income was ₹290 and the profit was ₹10. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
38. 38.Farhan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
39. 39.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
40. 40.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?

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