Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 153 · 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.Gurpreet’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹20 (lemons)
   Expense: ₹20 (posters)
   What is the profit (in ₹)?
2. 2.True or false: “money from sales” is income (money in). (a) False (b) True
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying lemons (d) payment for a cake order
4. 4.Diya’s stall took in ₹340 on Friday, ₹400 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
5. 5.Gurpreet’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹170 (ribbon)
   Expense: ₹140 (card paper)
   How much is the loss (in ₹)?
6. 6.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
7. 7.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) printing posters (d) buying paper cups
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) paying the stall fee (d) payment for a cake order
9. 9.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
10. 10.📒 Income or expense: paying the stall fee? (a) expense (b) income
11. 11.Dev’s stall took in ₹380 on Friday, ₹390 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
12. 12.Saanvi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹170 (stall fee)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) income (b) expense
14. 14.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
15. 15.True or false: “tutoring fees received” is income (money in). (a) True (b) False
16. 16.Ishaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹320 (transport)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
18. 18.Kavya’s income was ₹260 and the profit was ₹200. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
19. 19.📒 Income or expense: bus fare to the market? (a) income (b) expense
20. 20.Nisha’s income was ₹200 and the profit was ₹80. One expense was ₹30 (card paper). How much was the other expense, for posters (in ₹)?
21. 21.📒 Income or expense: a card order paid? (a) expense (b) income
22. 22.Kabir’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
23. 23.True or false: “printing posters” is an expense (money out). (a) True (b) False
24. 24.📒 Income or expense: cash from selling plants? (a) expense (b) income
25. 25.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) paying the stall fee (d) buying paper cups
26. 26.📒 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
27. 27.Dev’s income was ₹480 and the profit was ₹210. One expense was ₹50 (card paper). How much was the other expense, for transport (in ₹)?
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.📒 Income or expense: printing posters? (a) income (b) expense
30. 30.📒 Income or expense: payment for a cake order? (a) expense (b) income
31. 31.Joseph’s stall took in ₹60 on Friday, ₹170 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
32. 32.Arjun’s income was ₹360 and the profit was ₹20. One expense was ₹230 (transport). How much was the other expense, for ribbon (in ₹)?
33. 33.Rohan’s stall took in ₹60 on Friday, ₹150 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
34. 34.Rohan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
35. 35.Ananya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹160 (sugar)
    How much is the loss (in ₹)?
36. 36.Ananya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹270 (ribbon)
    How much is the loss (in ₹)?
37. 37.Saanvi’s income was ₹360 and the profit was ₹330. One expense was ₹20 (transport). How much was the other expense, for card paper (in ₹)?
38. 38.Farhan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
39. 39.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) printing posters (d) payment for a cake order

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