Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 918 · 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) cash from selling plants (b) a card order paid (c) printing posters (d) payment for a cake order
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.Ananya’s income was ₹180 and the profit was ₹40. One expense was ₹60 (lemons). How much was the other expense, for posters (in ₹)?
4. 4.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) tutoring fees received (d) buying paper cups
5. 5.True or false: “printing posters” is income (money in). (a) False (b) True
6. 6.Kavya’s income was ₹270 and the profit was ₹10. One expense was ₹40 (transport). How much was the other expense, for sugar (in ₹)?
7. 7.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) paying the stall fee (d) tutoring fees received
8. 8.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
9. 9.📒 Income or expense: money from sales? (a) expense (b) income
10. 10.📒 Income or expense: tutoring fees received? (a) expense (b) income
11. 11.Joseph’s income was ₹470 and the profit was ₹270. One expense was ₹50 (ribbon). How much was the other expense, for sugar (in ₹)?
12. 12.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
13. 13.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
14. 14.True or false: “payment for a cake order” is income (money in). (a) False (b) True
15. 15.Rohan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
16. 16.Ananya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹150 (paper cups)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
17. 17.Aarav’s income was ₹270 and the profit was ₹60. One expense was ₹80 (paper cups). How much was the other expense, for stall fee (in ₹)?
18. 18.Kavya’s stall took in ₹200 on Friday, ₹290 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
19. 19.Meera’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) payment for a cake order (d) bus fare to the market
21. 21.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) money from sales (d) bus fare to the market
22. 22.📒 Income or expense: buying paper cups? (a) expense (b) income
23. 23.Lakshmi’s stall took in ₹170 on Friday, ₹390 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: buying lemons? (a) income (b) expense
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) payment for a cake order (d) printing posters
26. 26.Nisha’s income was ₹320 and the profit was ₹200. One expense was ₹20 (sugar). How much was the other expense, for ribbon (in ₹)?
27. 27.📒 Income or expense: printing posters? (a) income (b) expense
28. 28.Tara’s stall took in ₹310 on Friday, ₹120 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “a card order paid” is an expense (money out). (a) True (b) False
30. 30.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
31. 31.📒 Income or expense: cash from selling plants? (a) income (b) expense
32. 32.True or false: “money from sales” is an expense (money out). (a) True (b) False
33. 33.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) a card order paid (d) tutoring fees received
34. 34.Rohan’s income was ₹170 and the profit was ₹150. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
35. 35.Lakshmi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
36. 36.Ishaan’s stall took in ₹190 on Friday, ₹300 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “bus fare to the market” is income (money in). (a) False (b) True
38. 38.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) printing posters (d) bus fare to the market
39. 39.Ananya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (posters)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
40. 40.Kavya’s stall took in ₹300 on Friday, ₹220 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?

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