Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 890 · 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: bus fare to the market? (a) expense (b) income
2. 2.Arjun’s income was ₹360 and the profit was ₹180. One expense was ₹80 (paper cups). How much was the other expense, for lemons (in ₹)?
3. 3.Arjun’s income was ₹180 and the profit was ₹50. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
4. 4.📒 Income or expense: printing posters? (a) income (b) expense
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) money from sales (d) payment for a cake order
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) buying lemons (d) payment for a cake order
7. 7.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
8. 8.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) a card order paid (d) payment for a cake order
9. 9.Kavya’s income was ₹400 and the profit was ₹220. One expense was ₹100 (ribbon). How much was the other expense, for card paper (in ₹)?
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
11. 11.Lakshmi’s stall took in ₹320 on Friday, ₹80 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
12. 12.Nisha’s stall took in ₹150 on Friday, ₹90 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
13. 13.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
15. 15.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) money from sales (d) printing posters
16. 16.Ananya’s stall took in ₹230 on Friday, ₹80 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “payment for a cake order” is income (money in). (a) False (b) True
18. 18.Tara’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
19. 19.True or false: “money from sales” is income (money in). (a) False (b) True
20. 20.Ananya’s stall took in ₹340 on Friday, ₹130 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
21. 21.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) bus fare to the market
23. 23.Gurpreet’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
24. 24.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
25. 25.True or false: “money from sales” is an expense (money out). (a) True (b) False
26. 26.Arjun’s income was ₹280 and the profit was ₹50. One expense was ₹50 (paper cups). How much was the other expense, for lemons (in ₹)?
27. 27.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹220 (transport)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
28. 28.Gurpreet’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
29. 29.Zoya’s income was ₹280 and the profit was ₹50. One expense was ₹130 (lemons). How much was the other expense, for paper cups (in ₹)?
30. 30.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹60 (transport)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
31. 31.True or false: “bus fare to the market” is income (money in). (a) False (b) True
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.Diya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
34. 34.Ishaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
35. 35.Vihaan’s income was ₹100 and the profit was ₹40. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
36. 36.📒 Income or expense: payment for a cake order? (a) expense (b) income
37. 37.📒 Income or expense: cash from selling plants? (a) expense (b) income
38. 38.Ananya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
39. 39.Rohan’s income was ₹490 and the profit was ₹100. One expense was ₹280 (transport). How much was the other expense, for ribbon (in ₹)?
40. 40.Joseph’s income was ₹160 and the profit was ₹140. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?

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