Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 136 · 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.Vihaan’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹40 (sugar)
   Expense: ₹80 (lemons)
   How much is the loss (in ₹)?
2. 2.True or false: “money from sales” is an expense (money out). (a) False (b) True
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) printing posters
4. 4.Zoya’s income was ₹280 and the profit was ₹130. One expense was ₹40 (sugar). How much was the other expense, for card paper (in ₹)?
5. 5.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) tutoring fees received
6. 6.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
7. 7.Arjun’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹40 (ribbon)
   What is the profit (in ₹)?
8. 8.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
9. 9.Joseph’s income was ₹300 and the profit was ₹150. One expense was ₹40 (paper cups). How much was the other expense, for stall fee (in ₹)?
10. 10.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
11. 11.Farhan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
12. 12.Dev’s stall took in ₹390 on Friday, ₹280 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is income (money in)? (a) money from sales (b) printing posters (c) paying the stall fee (d) buying lemons
14. 14.Diya’s income was ₹450 and the profit was ₹320. One expense was ₹100 (paper cups). How much was the other expense, for lemons (in ₹)?
15. 15.Aarav’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
16. 16.Gurpreet’s income was ₹460 and the profit was ₹320. One expense was ₹120 (sugar). How much was the other expense, for lemons (in ₹)?
17. 17.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
18. 18.📒 Income or expense: printing posters? (a) income (b) expense
19. 19.Nisha’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
20. 20.Zoya’s income was ₹310 and the profit was ₹80. One expense was ₹130 (ribbon). How much was the other expense, for posters (in ₹)?
21. 21.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
22. 22.📒 Income or expense: buying paper cups? (a) income (b) expense
23. 23.📒 Income or expense: payment for a cake order? (a) income (b) expense
24. 24.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) cash from selling plants (d) payment for a cake order
25. 25.Zoya’s stall took in ₹240 on Friday, ₹350 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
26. 26.Vihaan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: money from sales? (a) expense (b) income
28. 28.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
29. 29.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹50 (posters)
    Expense: ₹270 (sugar)
    How much is the loss (in ₹)?
30. 30.True or false: “printing posters” is an expense (money out). (a) False (b) True
31. 31.📒 Income or expense: cash from selling plants? (a) income (b) expense
32. 32.Kabir’s income was ₹140 and the profit was ₹90. One expense was ₹30 (card paper). How much was the other expense, for paper cups (in ₹)?
33. 33.Arjun’s stall took in ₹80 on Friday, ₹50 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
34. 34.Ishaan’s stall took in ₹100 on Friday, ₹210 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: tutoring fees received? (a) income (b) expense
36. 36.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) buying paper cups
37. 37.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
38. 38.Dev’s income was ₹120 and the profit was ₹10. One expense was ₹50 (transport). How much was the other expense, for paper cups (in ₹)?
39. 39.Saanvi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
40. 40.Aarav’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?

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