Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 123 · 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: payment for a cake order? (a) income (b) expense
2. 2.Kabir’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹190 (lemons)
   Expense: ₹140 (ribbon)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: printing posters? (a) expense (b) income
4. 4.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
5. 5.Lakshmi’s income was ₹440 and the profit was ₹230. One expense was ₹20 (lemons). How much was the other expense, for card paper (in ₹)?
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
7. 7.Farhan’s income was ₹370 and the profit was ₹70. One expense was ₹130 (card paper). How much was the other expense, for paper cups (in ₹)?
8. 8.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
9. 9.📒 Income or expense: bus fare to the market? (a) income (b) expense
10. 10.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
11. 11.Diya’s income was ₹300 and the profit was ₹30. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
12. 12.True or false: “buying lemons” is income (money in). (a) True (b) False
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) cash from selling plants (d) money from sales
14. 14.True or false: “money from sales” is an expense (money out). (a) True (b) False
15. 15.Dev’s income was ₹410 and the profit was ₹180. One expense was ₹180 (transport). How much was the other expense, for sugar (in ₹)?
16. 16.Zoya’s income was ₹500 and the profit was ₹330. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
17. 17.Lakshmi’s stall took in ₹120 on Friday, ₹190 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
18. 18.Kabir’s income was ₹450 and the profit was ₹70. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
19. 19.Kavya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹130 (paper cups)
    How much is the loss (in ₹)?
20. 20.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
21. 21.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
22. 22.True or false: “printing posters” is income (money in). (a) False (b) True
23. 23.📒 Income or expense: buying paper cups? (a) expense (b) income
24. 24.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
25. 25.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
26. 26.📒 Income or expense: buying lemons? (a) income (b) expense
27. 27.Ishaan’s income was ₹400 and the profit was ₹200. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
28. 28.True or false: “a card order paid” is an expense (money out). (a) False (b) True
29. 29.Rohan’s income was ₹380 and the profit was ₹140. One expense was ₹60 (card paper). How much was the other expense, for lemons (in ₹)?
30. 30.Ishaan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) bus fare to the market
32. 32.Ananya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
33. 33.Joseph’s stall took in ₹360 on Friday, ₹70 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
34. 34.Aarav’s stall took in ₹190 on Friday, ₹80 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: money from sales? (a) income (b) expense
36. 36.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: cash from selling plants? (a) income (b) expense
38. 38.Riya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹120 (stall fee)
    Expense: ₹230 (transport)
    How much is the loss (in ₹)?
39. 39.Diya’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
40. 40.Diya’s stall took in ₹320 on Friday, ₹320 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?

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