Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 709 · 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: tutoring fees received? (a) expense (b) income
2. 2.Ishaan’s stall took in ₹160 on Friday, ₹80 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
3. 3.Kavya’s income was ₹340 and the profit was ₹70. One expense was ₹140 (posters). How much was the other expense, for sugar (in ₹)?
4. 4.Ishaan’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹40 (lemons)
   What is the profit (in ₹)?
5. 5.Diya’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹260 (stall fee)
   Expense: ₹70 (sugar)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: money from sales? (a) income (b) expense
7. 7.True or false: “buying paper cups” is income (money in). (a) True (b) False
8. 8.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.Gurpreet’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹220 (card paper)
    How much is the loss (in ₹)?
12. 12.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) a card order paid
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) cash from selling plants (d) money from sales
14. 14.Lakshmi’s income was ₹430 and the profit was ₹170. One expense was ₹120 (lemons). How much was the other expense, for sugar (in ₹)?
15. 15.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) buying lemons (d) printing posters
16. 16.True or false: “cash from selling plants” is income (money in). (a) True (b) False
17. 17.Nisha’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
18. 18.True or false: “buying lemons” is income (money in). (a) False (b) True
19. 19.Kavya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
20. 20.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
21. 21.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
22. 22.True or false: “a card order paid” is an expense (money out). (a) True (b) False
23. 23.Nisha’s income was ₹340 and the profit was ₹90. One expense was ₹80 (lemons). How much was the other expense, for paper cups (in ₹)?
24. 24.True or false: “buying lemons” is an expense (money out). (a) True (b) False
25. 25.Ananya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹220 (paper cups)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
26. 26.True or false: “money from sales” is income (money in). (a) True (b) False
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) paying the stall fee (d) buying paper cups
29. 29.Lakshmi’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
30. 30.Aarav’s stall took in ₹190 on Friday, ₹320 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Rohan’s income was ₹400 and the profit was ₹350. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.📒 Income or expense: payment for a cake order? (a) expense (b) income
34. 34.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) cash from selling plants (d) tutoring fees received
35. 35.True or false: “bus fare to the market” is income (money in). (a) False (b) True
36. 36.Saanvi’s income was ₹360 and the profit was ₹240. One expense was ₹100 (transport). How much was the other expense, for paper cups (in ₹)?
37. 37.Arjun’s stall took in ₹180 on Friday, ₹230 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
38. 38.Saanvi’s stall took in ₹80 on Friday, ₹280 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
40. 40.True or false: “buying paper cups” is an expense (money out). (a) True (b) False

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