Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 15 · 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.Kavya’s income was ₹100 and the profit was ₹80. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
2. 2.📒 Income or expense: bus fare to the market? (a) expense (b) income
3. 3.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) bus fare to the market (d) cash from selling plants
4. 4.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.Meera’s stall took in ₹360 on Friday, ₹70 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
7. 7.Kavya’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹180 (transport)
   Expense: ₹110 (paper cups)
   How much is the loss (in ₹)?
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) tutoring fees received
9. 9.📒 Income or expense: buying lemons? (a) expense (b) income
10. 10.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) tutoring fees received
11. 11.True or false: “buying paper cups” is income (money in). (a) True (b) False
12. 12.Rohan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹200 (transport)
    How much is the loss (in ₹)?
13. 13.True or false: “money from sales” is income (money in). (a) False (b) True
14. 14.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying lemons (d) paying the stall fee
15. 15.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
16. 16.Nisha’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹190 (lemons)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: paying the stall fee? (a) expense (b) income
18. 18.Rohan’s stall took in ₹100 on Friday, ₹320 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
19. 19.Vihaan’s income was ₹480 and the profit was ₹40. One expense was ₹170 (card paper). How much was the other expense, for sugar (in ₹)?
20. 20.📒 Income or expense: cash from selling plants? (a) expense (b) income
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
22. 22.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
23. 23.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
24. 24.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
25. 25.Meera’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹160 (card paper)
    Expense: ₹170 (sugar)
    How much is the loss (in ₹)?
26. 26.Dev’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹220 (card paper)
    How much is the loss (in ₹)?
27. 27.True or false: “a card order paid” is an expense (money out). (a) False (b) True
28. 28.Kavya’s income was ₹180 and the profit was ₹110. One expense was ₹50 (ribbon). How much was the other expense, for lemons (in ₹)?
29. 29.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) money from sales (d) a card order paid
30. 30.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
31. 31.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) payment for a cake order (d) buying paper cups
32. 32.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
33. 33.True or false: “printing posters” is an expense (money out). (a) False (b) True
34. 34.Joseph’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
35. 35.Rohan’s stall took in ₹120 on Friday, ₹200 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: a card order paid? (a) expense (b) income
37. 37.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) bus fare to the market (d) money from sales
39. 39.Ananya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
40. 40.Saanvi’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?

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