Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 134 · 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.Dev’s income was ₹130 and the profit was ₹70. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
2. 2.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) payment for a cake order (d) tutoring fees received
3. 3.Kabir’s stall took in ₹170 on Friday, ₹220 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
4. 4.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
7. 7.Joseph’s stall took in ₹80 on Friday, ₹280 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
8. 8.Kavya’s income was ₹440 and the profit was ₹270. One expense was ₹130 (paper cups). How much was the other expense, for card paper (in ₹)?
9. 9.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
10. 10.Meera’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
11. 11.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
12. 12.Lakshmi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
13. 13.Nisha’s income was ₹290 and the profit was ₹20. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
14. 14.Nisha’s stall took in ₹260 on Friday, ₹210 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) tutoring fees received (d) payment for a cake order
16. 16.📒 Income or expense: paying the stall fee? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) tutoring fees received (d) paying the stall fee
18. 18.Arjun’s income was ₹110 and the profit was ₹90. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?
19. 19.Dev’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹180 (transport)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
20. 20.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
21. 21.Aarav’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
22. 22.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) paying the stall fee (d) buying lemons
23. 23.Gurpreet’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
26. 26.True or false: “payment for a cake order” is income (money in). (a) False (b) True
27. 27.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) money from sales (d) buying paper cups
28. 28.Aarav’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
29. 29.True or false: “tutoring fees received” is income (money in). (a) False (b) True
30. 30.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying paper cups (d) tutoring fees received
31. 31.True or false: “money from sales” is an expense (money out). (a) False (b) True
32. 32.True or false: “buying lemons” is income (money in). (a) True (b) False
33. 33.True or false: “printing posters” is income (money in). (a) True (b) False
34. 34.Joseph’s stall took in ₹390 on Friday, ₹330 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
35. 35.Joseph’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
36. 36.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
37. 37.Meera’s income was ₹340 and the profit was ₹110. One expense was ₹140 (ribbon). How much was the other expense, for paper cups (in ₹)?
38. 38.Kabir’s income was ₹380 and the profit was ₹150. One expense was ₹120 (posters). How much was the other expense, for paper cups (in ₹)?
39. 39.Kavya’s income was ₹480 and the profit was ₹330. One expense was ₹110 (sugar). How much was the other expense, for posters (in ₹)?
40. 40.📒 Income or expense: payment for a cake order? (a) expense (b) income

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