Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 728 · 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 an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) printing posters (d) money from sales
2. 2.📒 Income or expense: buying lemons? (a) expense (b) income
3. 3.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) money from sales (d) a card order paid
4. 4.Ishaan’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹120 (ribbon)
   Expense: ₹150 (transport)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: money from sales? (a) expense (b) income
6. 6.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
7. 7.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
8. 8.Vihaan’s income was ₹450 and the profit was ₹30. One expense was ₹410 (card paper). How much was the other expense, for ribbon (in ₹)?
9. 9.True or false: “a card order paid” is an expense (money out). (a) False (b) True
10. 10.Farhan’s income was ₹180 and the profit was ₹40. One expense was ₹110 (sugar). How much was the other expense, for lemons (in ₹)?
11. 11.Vihaan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
12. 12.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
13. 13.Ananya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
14. 14.Meera’s income was ₹340 and the profit was ₹30. One expense was ₹250 (paper cups). How much was the other expense, for stall fee (in ₹)?
15. 15.True or false: “cash from selling plants” is income (money in). (a) True (b) False
16. 16.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) cash from selling plants (d) tutoring fees received
17. 17.📒 Income or expense: a card order paid? (a) expense (b) income
18. 18.📒 Income or expense: paying the stall fee? (a) expense (b) income
19. 19.True or false: “printing posters” is an expense (money out). (a) False (b) True
20. 20.True or false: “paying the stall fee” is income (money in). (a) True (b) False
21. 21.Saanvi’s income was ₹290 and the profit was ₹200. One expense was ₹70 (lemons). How much was the other expense, for posters (in ₹)?
22. 22.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) paying the stall fee (d) buying paper cups
23. 23.Dev’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹190 (stall fee)
    How much is the loss (in ₹)?
24. 24.Dev’s stall took in ₹350 on Friday, ₹230 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
25. 25.Tara’s income was ₹140 and the profit was ₹20. One expense was ₹30 (ribbon). How much was the other expense, for sugar (in ₹)?
26. 26.Dev’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
27. 27.Ishaan’s income was ₹420 and the profit was ₹250. One expense was ₹90 (card paper). How much was the other expense, for ribbon (in ₹)?
28. 28.Saanvi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
29. 29.Dev’s stall took in ₹140 on Friday, ₹220 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
30. 30.Dev’s income was ₹150 and the profit was ₹40. One expense was ₹70 (posters). How much was the other expense, for sugar (in ₹)?
31. 31.📒 Income or expense: tutoring fees received? (a) expense (b) income
32. 32.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
33. 33.Ananya’s stall took in ₹400 on Friday, ₹350 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “payment for a cake order” is income (money in). (a) False (b) True
35. 35.Ishaan’s income was ₹110 and the profit was ₹80. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
37. 37.Joseph’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹220 (posters)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
38. 38.Riya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
39. 39.True or false: “bus fare to the market” is income (money in). (a) True (b) False
40. 40.Diya’s income was ₹200 and the profit was ₹50. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?

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