Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 941 · 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) buying lemons (c) paying the stall fee (d) printing posters
2. 2.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
3. 3.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
4. 4.📒 Income or expense: a card order paid? (a) expense (b) income
5. 5.Nisha’s income was ₹150 and the profit was ₹20. One expense was ₹50 (lemons). How much was the other expense, for ribbon (in ₹)?
6. 6.📒 Income or expense: buying paper cups? (a) income (b) expense
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.True or false: “tutoring fees received” is income (money in). (a) True (b) False
10. 10.📒 Income or expense: tutoring fees received? (a) income (b) expense
11. 11.True or false: “money from sales” is an expense (money out). (a) False (b) True
12. 12.📒 Income or expense: bus fare to the market? (a) income (b) expense
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
14. 14.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
15. 15.Rohan’s income was ₹150 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
16. 16.True or false: “bus fare to the market” is income (money in). (a) False (b) True
17. 17.Farhan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
18. 18.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) tutoring fees received (d) money from sales
19. 19.Ananya’s income was ₹440 and the profit was ₹300. One expense was ₹120 (posters). How much was the other expense, for lemons (in ₹)?
20. 20.Zoya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹170 (lemons)
    How much is the loss (in ₹)?
21. 21.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) buying lemons
23. 23.Kabir’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
24. 24.Meera’s income was ₹320 and the profit was ₹160. One expense was ₹40 (transport). How much was the other expense, for stall fee (in ₹)?
25. 25.Arjun’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
26. 26.Joseph’s income was ₹180 and the profit was ₹10. One expense was ₹60 (ribbon). How much was the other expense, for lemons (in ₹)?
27. 27.📒 Income or expense: paying the stall fee? (a) expense (b) income
28. 28.Ishaan’s stall took in ₹320 on Friday, ₹220 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
29. 29.Diya’s stall took in ₹180 on Friday, ₹240 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
30. 30.Aarav’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹140 (stall fee)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
31. 31.Kabir’s stall took in ₹230 on Friday, ₹160 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
32. 32.Lakshmi’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹230 (sugar)
    How much is the loss (in ₹)?
33. 33.Dev’s income was ₹100 and the profit was ₹30. One expense was ₹60 (posters). How much was the other expense, for lemons (in ₹)?
34. 34.Diya’s income was ₹110 and the profit was ₹70. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?
35. 35.Farhan’s income was ₹180 and the profit was ₹60. One expense was ₹60 (paper cups). How much was the other expense, for transport (in ₹)?
36. 36.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
37. 37.True or false: “buying lemons” is an expense (money out). (a) False (b) True
38. 38.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) money from sales (d) tutoring fees received
39. 39.True or false: “a card order paid” is an expense (money out). (a) True (b) False
40. 40.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹170 (lemons)
    How much is the loss (in ₹)?

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