Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 795 · 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.Dev’s income was ₹210 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
2. 2.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) buying paper cups (d) buying lemons
3. 3.True or false: “printing posters” is an expense (money out). (a) True (b) False
4. 4.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
5. 5.True or false: “money from sales” is an expense (money out). (a) True (b) False
6. 6.Meera’s stall took in ₹370 on Friday, ₹370 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “tutoring fees received” is income (money in). (a) False (b) True
8. 8.Arjun’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹50 (posters)
   Expense: ₹80 (transport)
   How much is the loss (in ₹)?
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying lemons (d) money from sales
10. 10.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.📒 Income or expense: bus fare to the market? (a) income (b) expense
13. 13.True or false: “money from sales” is income (money in). (a) False (b) True
14. 14.Saanvi’s stall took in ₹130 on Friday, ₹50 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
15. 15.Joseph’s income was ₹260 and the profit was ₹100. One expense was ₹50 (ribbon). How much was the other expense, for transport (in ₹)?
16. 16.Aarav’s stall took in ₹270 on Friday, ₹230 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
17. 17.Aarav’s record for the day:
    Income: ₹570 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.True or false: “a card order paid” is an expense (money out). (a) True (b) False
20. 20.📒 Income or expense: printing posters? (a) income (b) expense
21. 21.📒 Income or expense: tutoring fees received? (a) expense (b) income
22. 22.Ananya’s stall took in ₹230 on Friday, ₹70 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
23. 23.📒 Income or expense: buying paper cups? (a) expense (b) income
24. 24.Ishaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹190 (lemons)
    Expense: ₹210 (paper cups)
    How much is the loss (in ₹)?
25. 25.Aarav’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
26. 26.True or false: “bus fare to the market” is income (money in). (a) True (b) False
27. 27.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
28. 28.True or false: “buying lemons” is an expense (money out). (a) True (b) False
29. 29.Aarav’s income was ₹360 and the profit was ₹170. One expense was ₹80 (transport). How much was the other expense, for posters (in ₹)?
30. 30.True or false: “printing posters” is income (money in). (a) False (b) True
31. 31.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) tutoring fees received (d) money from sales
32. 32.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) paying the stall fee
33. 33.Lakshmi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
34. 34.Ishaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
35. 35.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) printing posters
36. 36.Nisha’s stall took in ₹380 on Friday, ₹290 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) income (b) expense
38. 38.Ishaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: cash from selling plants? (a) expense (b) income
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) cash from selling plants

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