Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 745 · 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) money from sales (b) paying the stall fee (c) buying lemons (d) printing posters
2. 2.True or false: “a card order paid” is an expense (money out). (a) False (b) True
3. 3.Diya’s income was ₹340 and the profit was ₹90. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
4. 4.Nisha’s stall took in ₹320 on Friday, ₹190 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
6. 6.Ishaan’s stall took in ₹310 on Friday, ₹280 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
7. 7.Kavya’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹160 (card paper)
   Expense: ₹40 (paper cups)
   How much is the loss (in ₹)?
8. 8.Dev’s stall took in ₹390 on Friday, ₹350 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) tutoring fees received (d) payment for a cake order
10. 10.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) cash from selling plants
12. 12.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) payment for a cake order
13. 13.Diya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹280 (card paper)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
14. 14.Tara’s stall took in ₹60 on Friday, ₹250 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
15. 15.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
16. 16.True or false: “printing posters” is income (money in). (a) True (b) False
17. 17.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
18. 18.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
19. 19.Kavya’s stall took in ₹320 on Friday, ₹220 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “paying the stall fee” is income (money in). (a) True (b) False
21. 21.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹180 (posters)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
22. 22.Arjun’s income was ₹170 and the profit was ₹50. One expense was ₹40 (card paper). How much was the other expense, for lemons (in ₹)?
23. 23.📒 Income or expense: a card order paid? (a) expense (b) income
24. 24.Aarav’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹170 (transport)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
25. 25.Farhan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
26. 26.Lakshmi’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹60 (transport)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
27. 27.Nisha’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
28. 28.True or false: “buying lemons” is income (money in). (a) True (b) False
29. 29.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) payment for a cake order (d) cash from selling plants
30. 30.True or false: “tutoring fees received” is income (money in). (a) False (b) True
31. 31.Gurpreet’s income was ₹240 and the profit was ₹40. One expense was ₹130 (posters). How much was the other expense, for stall fee (in ₹)?
32. 32.Kabir’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?
33. 33.Kabir’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: cash from selling plants? (a) income (b) expense
35. 35.Farhan’s income was ₹380 and the profit was ₹130. One expense was ₹70 (lemons). How much was the other expense, for ribbon (in ₹)?
36. 36.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
37. 37.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
38. 38.Rohan’s stall took in ₹400 on Friday, ₹100 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “a card order paid” is income (money in). (a) True (b) False
40. 40.Lakshmi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹130 (posters)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?

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