Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 131 · 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.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
2. 2.📒 Income or expense: bus fare to the market? (a) expense (b) income
3. 3.Diya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹50 (sugar)
   Expense: ₹230 (transport)
   How much is the loss (in ₹)?
4. 4.Ananya’s income was ₹120 and the profit was ₹90. One expense was ₹20 (lemons). How much was the other expense, for stall fee (in ₹)?
5. 5.📒 Income or expense: payment for a cake order? (a) income (b) expense
6. 6.Dev’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹50 (lemons)
   Expense: ₹100 (transport)
   How much is the loss (in ₹)?
7. 7.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
8. 8.True or false: “bus fare to the market” is income (money in). (a) True (b) False
9. 9.Farhan’s income was ₹360 and the profit was ₹230. One expense was ₹40 (posters). How much was the other expense, for ribbon (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) money from sales (d) cash from selling plants
12. 12.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
13. 13.Which of these is income (money in)? (a) printing posters (b) money from sales (c) bus fare to the market (d) buying lemons
14. 14.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) buying paper cups
15. 15.Kavya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
16. 16.Ishaan’s income was ₹330 and the profit was ₹170. One expense was ₹110 (transport). How much was the other expense, for lemons (in ₹)?
17. 17.Riya’s income was ₹410 and the profit was ₹280. One expense was ₹100 (ribbon). How much was the other expense, for sugar (in ₹)?
18. 18.True or false: “cash from selling plants” is income (money in). (a) False (b) True
19. 19.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) printing posters (d) payment for a cake order
20. 20.📒 Income or expense: tutoring fees received? (a) expense (b) income
21. 21.Ananya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (posters)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: buying lemons? (a) income (b) expense
23. 23.Lakshmi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: cash from selling plants? (a) income (b) expense
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying lemons (d) printing posters
26. 26.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
27. 27.Zoya’s stall took in ₹360 on Friday, ₹120 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
28. 28.Ishaan’s stall took in ₹290 on Friday, ₹200 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
29. 29.Zoya’s income was ₹410 and the profit was ₹10. One expense was ₹310 (card paper). How much was the other expense, for posters (in ₹)?
30. 30.Joseph’s stall took in ₹60 on Friday, ₹220 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
31. 31.Diya’s stall took in ₹120 on Friday, ₹350 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) tutoring fees received
33. 33.📒 Income or expense: money from sales? (a) expense (b) income
34. 34.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) paying the stall fee (d) payment for a cake order
35. 35.Riya’s stall took in ₹200 on Friday, ₹250 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: buying paper cups? (a) expense (b) income
37. 37.Farhan’s stall took in ₹100 on Friday, ₹50 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
38. 38.Kabir’s stall took in ₹160 on Friday, ₹230 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: printing posters? (a) income (b) expense
40. 40.📒 Income or expense: paying the stall fee? (a) income (b) expense

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