Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 111 · 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) buying paper cups (b) tutoring fees received (c) cash from selling plants (d) a card order paid
2. 2.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
3. 3.Ishaan’s income was ₹130 and the profit was ₹30. One expense was ₹90 (ribbon). How much was the other expense, for stall fee (in ₹)?
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) buying lemons
5. 5.Vihaan’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹190 (stall fee)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
7. 7.📒 Income or expense: money from sales? (a) expense (b) income
8. 8.📒 Income or expense: cash from selling plants? (a) income (b) expense
9. 9.Tara’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹180 (sugar)
   Expense: ₹120 (paper cups)
   How much is the loss (in ₹)?
10. 10.Riya’s stall took in ₹50 on Friday, ₹170 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
11. 11.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
12. 12.True or false: “buying lemons” is income (money in). (a) False (b) True
13. 13.Kabir’s stall took in ₹250 on Friday, ₹230 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) money from sales (d) printing posters
15. 15.Ishaan’s income was ₹240 and the profit was ₹180. One expense was ₹50 (sugar). How much was the other expense, for ribbon (in ₹)?
16. 16.True or false: “cash from selling plants” is income (money in). (a) False (b) True
17. 17.📒 Income or expense: paying the stall fee? (a) expense (b) income
18. 18.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) money from sales (d) paying the stall fee
19. 19.Vihaan’s income was ₹110 and the profit was ₹10. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
20. 20.Kabir’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹140 (transport)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
21. 21.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying lemons (d) paying the stall fee
22. 22.True or false: “money from sales” is income (money in). (a) False (b) True
23. 23.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying paper cups (d) cash from selling plants
24. 24.Zoya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
25. 25.Rohan’s stall took in ₹200 on Friday, ₹60 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) paying the stall fee
27. 27.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
28. 28.📒 Income or expense: printing posters? (a) expense (b) income
29. 29.Vihaan’s income was ₹290 and the profit was ₹120. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
30. 30.📒 Income or expense: a card order paid? (a) expense (b) income
31. 31.Vihaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
32. 32.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
33. 33.Meera’s income was ₹340 and the profit was ₹40. One expense was ₹250 (stall fee). How much was the other expense, for transport (in ₹)?
34. 34.Rohan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
35. 35.Dev’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹210 (card paper)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
36. 36.Kabir’s stall took in ₹270 on Friday, ₹160 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
37. 37.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
38. 38.Joseph’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
39. 39.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
40. 40.True or false: “buying paper cups” is an expense (money out). (a) True (b) False

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