Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 706 · 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: “cash from selling plants” is an expense (money out). (a) False (b) True
2. 2.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
3. 3.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) money from sales (d) a card order paid
4. 4.Diya’s stall took in ₹200 on Friday, ₹140 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: cash from selling plants? (a) expense (b) income
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) cash from selling plants
7. 7.📒 Income or expense: paying the stall fee? (a) expense (b) income
8. 8.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
9. 9.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
10. 10.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) money from sales (d) bus fare to the market
11. 11.True or false: “tutoring fees received” is income (money in). (a) False (b) True
12. 12.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) payment for a cake order
13. 13.Saanvi’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
14. 14.True or false: “buying lemons” is income (money in). (a) False (b) True
15. 15.📒 Income or expense: tutoring fees received? (a) expense (b) income
16. 16.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) a card order paid (d) paying the stall fee
17. 17.Aarav’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
18. 18.Tara’s stall took in ₹290 on Friday, ₹250 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
19. 19.Joseph’s stall took in ₹340 on Friday, ₹50 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
20. 20.Ananya’s stall took in ₹120 on Friday, ₹290 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “paying the stall fee” is income (money in). (a) True (b) False
22. 22.Kabir’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹240 (posters)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: payment for a cake order? (a) income (b) expense
24. 24.Ananya’s stall took in ₹120 on Friday, ₹90 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
25. 25.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹210 (stall fee)
    How much is the loss (in ₹)?
26. 26.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) printing posters (d) money from sales
27. 27.True or false: “buying lemons” is an expense (money out). (a) False (b) True
28. 28.Vihaan’s income was ₹360 and the profit was ₹340. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
29. 29.Joseph’s income was ₹380 and the profit was ₹220. One expense was ₹100 (transport). How much was the other expense, for stall fee (in ₹)?
30. 30.Arjun’s stall took in ₹400 on Friday, ₹310 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
31. 31.Lakshmi’s income was ₹280 and the profit was ₹30. One expense was ₹60 (paper cups). How much was the other expense, for ribbon (in ₹)?
32. 32.Riya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
34. 34.Riya’s stall took in ₹340 on Friday, ₹120 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
35. 35.Gurpreet’s stall took in ₹150 on Friday, ₹370 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
36. 36.Riya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
37. 37.True or false: “printing posters” is income (money in). (a) False (b) True
38. 38.Diya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
39. 39.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) tutoring fees received (d) printing posters
40. 40.📒 Income or expense: buying paper cups? (a) income (b) expense

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