Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 143 · 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: tutoring fees received? (a) income (b) expense
2. 2.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
3. 3.Kabir’s stall took in ₹270 on Friday, ₹200 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
4. 4.📒 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
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
6. 6.Gurpreet’s income was ₹260 and the profit was ₹60. One expense was ₹100 (transport). How much was the other expense, for card paper (in ₹)?
7. 7.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) tutoring fees received (d) buying paper cups
8. 8.Ishaan’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹30 (card paper)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
9. 9.Nisha’s stall took in ₹90 on Friday, ₹300 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) printing posters (d) paying the stall fee
11. 11.📒 Income or expense: buying paper cups? (a) expense (b) income
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) cash from selling plants (d) buying paper cups
14. 14.Zoya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
15. 15.Kabir’s income was ₹170 and the profit was ₹30. One expense was ₹90 (transport). How much was the other expense, for paper cups (in ₹)?
16. 16.Kavya’s income was ₹300 and the profit was ₹30. One expense was ₹100 (sugar). How much was the other expense, for lemons (in ₹)?
17. 17.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
18. 18.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) payment for a cake order
19. 19.Saanvi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
20. 20.Saanvi’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹240 (transport)
    How much is the loss (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying lemons (d) buying paper cups
22. 22.Aarav’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
23. 23.Dev’s stall took in ₹50 on Friday, ₹140 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “tutoring fees received” is income (money in). (a) True (b) False
25. 25.Gurpreet’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
26. 26.Dev’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
27. 27.Tara’s income was ₹300 and the profit was ₹170. One expense was ₹20 (stall fee). How much was the other expense, for transport (in ₹)?
28. 28.Saanvi’s income was ₹110 and the profit was ₹60. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
29. 29.Arjun’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
30. 30.Zoya’s stall took in ₹120 on Friday, ₹340 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
31. 31.Aarav’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: cash from selling plants? (a) expense (b) income
33. 33.📒 Income or expense: bus fare to the market? (a) income (b) expense
34. 34.True or false: “printing posters” is income (money in). (a) False (b) True
35. 35.Kabir’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
36. 36.Meera’s income was ₹380 and the profit was ₹10. One expense was ₹80 (posters). How much was the other expense, for lemons (in ₹)?
37. 37.Riya’s stall took in ₹230 on Friday, ₹290 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: a card order paid? (a) expense (b) income
39. 39.True or false: “bus fare to the market” is income (money in). (a) False (b) True
40. 40.📒 Income or expense: payment for a cake order? (a) expense (b) income

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