Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 149 · 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.True or false: “buying paper cups” is income (money in). (a) True (b) False
2. 2.True or false: “money from sales” is income (money in). (a) True (b) False
3. 3.Farhan’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹190 (transport)
   Expense: ₹30 (lemons)
   How much is the loss (in ₹)?
4. 4.Tara’s income was ₹330 and the profit was ₹80. One expense was ₹240 (transport). How much was the other expense, for paper cups (in ₹)?
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
6. 6.Lakshmi’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹20 (transport)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
7. 7.Lakshmi’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹90 (lemons)
   Expense: ₹50 (stall fee)
   What is the profit (in ₹)?
8. 8.Diya’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹200 (paper cups)
   Expense: ₹20 (sugar)
   How much is the loss (in ₹)?
9. 9.Kavya’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹30 (stall fee)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
10. 10.Kabir’s stall took in ₹200 on Friday, ₹340 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
11. 11.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
12. 12.Dev’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
13. 13.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) a card order paid (d) bus fare to the market
14. 14.Gurpreet’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
15. 15.Riya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
16. 16.Diya’s income was ₹310 and the profit was ₹10. One expense was ₹250 (transport). How much was the other expense, for stall fee (in ₹)?
17. 17.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
18. 18.Meera’s stall took in ₹310 on Friday, ₹190 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
19. 19.Dev’s stall took in ₹300 on Friday, ₹250 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
20. 20.Gurpreet’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
22. 22.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) buying lemons
24. 24.📒 Income or expense: a card order paid? (a) income (b) expense
25. 25.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
26. 26.Nisha’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
27. 27.True or false: “paying the stall fee” is income (money in). (a) True (b) False
28. 28.Joseph’s income was ₹460 and the profit was ₹440. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying lemons (d) buying paper cups
30. 30.📒 Income or expense: paying the stall fee? (a) expense (b) income
31. 31.Ishaan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: cash from selling plants? (a) income (b) expense
33. 33.Riya’s income was ₹380 and the profit was ₹150. One expense was ₹130 (transport). How much was the other expense, for lemons (in ₹)?
34. 34.True or false: “tutoring fees received” is income (money in). (a) True (b) False
35. 35.Lakshmi’s stall took in ₹90 on Friday, ₹250 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) bus fare to the market (d) paying the stall fee
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) cash from selling plants (d) money from sales
38. 38.Kabir’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
39. 39.True or false: “bus fare to the market” is income (money in). (a) True (b) False
40. 40.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?

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