Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 944 · 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.True or false: “buying lemons” is income (money in). (a) True (b) False
2. 2.📒 Income or expense: tutoring fees received? (a) expense (b) income
3. 3.True or false: “bus fare to the market” is income (money in). (a) True (b) False
4. 4.Saanvi’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹80 (sugar)
   Expense: ₹110 (paper cups)
   What is the profit (in ₹)?
5. 5.Gurpreet’s income was ₹500 and the profit was ₹390. One expense was ₹70 (paper cups). How much was the other expense, for transport (in ₹)?
6. 6.Joseph’s income was ₹330 and the profit was ₹270. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.True or false: “cash from selling plants” is income (money in). (a) True (b) False
9. 9.Rohan’s income was ₹360 and the profit was ₹210. One expense was ₹50 (card paper). How much was the other expense, for transport (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.Farhan’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) buying lemons
13. 13.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
15. 15.Nisha’s income was ₹160 and the profit was ₹100. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
16. 16.Aarav’s income was ₹440 and the profit was ₹170. One expense was ₹170 (sugar). How much was the other expense, for card paper (in ₹)?
17. 17.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying lemons (d) printing posters
18. 18.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹260 (ribbon)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
19. 19.True or false: “tutoring fees received” is income (money in). (a) False (b) True
20. 20.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) a card order paid
21. 21.Nisha’s income was ₹450 and the profit was ₹330. One expense was ₹100 (stall fee). How much was the other expense, for paper cups (in ₹)?
22. 22.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
23. 23.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
26. 26.Zoya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
27. 27.Rohan’s stall took in ₹110 on Friday, ₹150 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) printing posters (d) buying lemons
29. 29.📒 Income or expense: bus fare to the market? (a) income (b) expense
30. 30.Ananya’s stall took in ₹270 on Friday, ₹330 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) buying lemons
32. 32.📒 Income or expense: printing posters? (a) income (b) expense
33. 33.Rohan’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
34. 34.Vihaan’s income was ₹420 and the profit was ₹160. One expense was ₹170 (stall fee). How much was the other expense, for ribbon (in ₹)?
35. 35.Aarav’s stall took in ₹260 on Friday, ₹100 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
37. 37.True or false: “money from sales” is income (money in). (a) False (b) True
38. 38.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
39. 39.True or false: “money from sales” is an expense (money out). (a) False (b) True
40. 40.Ishaan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?

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