Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 690 · 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.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) money from sales
2. 2.Farhan’s stall took in ₹370 on Friday, ₹110 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) cash from selling plants
4. 4.True or false: “money from sales” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: buying paper cups? (a) expense (b) income
6. 6.Dev’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹190 (paper cups)
   Expense: ₹20 (lemons)
   How much is the loss (in ₹)?
7. 7.Tara’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹20 (paper cups)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) cash from selling plants (d) a card order paid
9. 9.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
10. 10.Kavya’s income was ₹370 and the profit was ₹80. One expense was ₹270 (paper cups). How much was the other expense, for ribbon (in ₹)?
11. 11.Aarav’s income was ₹420 and the profit was ₹280. One expense was ₹40 (posters). How much was the other expense, for stall fee (in ₹)?
12. 12.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) a card order paid
13. 13.Meera’s income was ₹300 and the profit was ₹50. One expense was ₹150 (stall fee). How much was the other expense, for lemons (in ₹)?
14. 14.Arjun’s income was ₹200 and the profit was ₹40. One expense was ₹20 (paper cups). How much was the other expense, for card paper (in ₹)?
15. 15.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
16. 16.Aarav’s income was ₹120 and the profit was ₹70. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
17. 17.📒 Income or expense: payment for a cake order? (a) expense (b) income
18. 18.Lakshmi’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹260 (sugar)
    How much is the loss (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
20. 20.Saanvi’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹240 (posters)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
21. 21.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
22. 22.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) buying lemons (d) buying paper cups
23. 23.Arjun’s stall took in ₹110 on Friday, ₹400 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
24. 24.Ananya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹290 (ribbon)
    How much is the loss (in ₹)?
25. 25.Lakshmi’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
26. 26.Diya’s stall took in ₹310 on Friday, ₹380 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: buying lemons? (a) expense (b) income
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
29. 29.Lakshmi’s income was ₹290 and the profit was ₹210. One expense was ₹60 (lemons). How much was the other expense, for ribbon (in ₹)?
30. 30.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: tutoring fees received? (a) income (b) expense
32. 32.Aarav’s income was ₹190 and the profit was ₹130. One expense was ₹20 (card paper). How much was the other expense, for sugar (in ₹)?
33. 33.Zoya’s stall took in ₹270 on Friday, ₹150 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
34. 34.Meera’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹60 (posters)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
35. 35.Farhan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.True or false: “bus fare to the market” is income (money in). (a) False (b) True
38. 38.Ananya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹180 (posters)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: money from sales? (a) income (b) expense
40. 40.True or false: “money from sales” is income (money in). (a) True (b) False

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