Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 154 · 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.Joseph’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹40 (card paper)
   Expense: ₹100 (sugar)
   What is the profit (in ₹)?
2. 2.True or false: “printing posters” is income (money in). (a) True (b) False
3. 3.Vihaan’s record for the day:
   Income: ₹450 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹200 (transport)
   Expense: ₹140 (paper cups)
   What is the profit (in ₹)?
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying paper cups (d) payment for a cake order
5. 5.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
6. 6.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
7. 7.Tara’s income was ₹250 and the profit was ₹30. One expense was ₹180 (paper cups). How much was the other expense, for sugar (in ₹)?
8. 8.📒 Income or expense: buying paper cups? (a) expense (b) income
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) a card order paid (d) tutoring fees received
11. 11.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
12. 12.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) cash from selling plants (d) bus fare to the market
13. 13.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
14. 14.Gurpreet’s stall took in ₹60 on Friday, ₹370 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “buying paper cups” is income (money in). (a) True (b) False
16. 16.Saanvi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
17. 17.Kabir’s income was ₹420 and the profit was ₹290. One expense was ₹100 (card paper). How much was the other expense, for ribbon (in ₹)?
18. 18.True or false: “payment for a cake order” is income (money in). (a) False (b) True
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
20. 20.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) payment for a cake order
21. 21.True or false: “printing posters” is an expense (money out). (a) False (b) True
22. 22.📒 Income or expense: paying the stall fee? (a) income (b) expense
23. 23.Farhan’s stall took in ₹50 on Friday, ₹120 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
24. 24.Rohan’s stall took in ₹270 on Friday, ₹130 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
26. 26.Lakshmi’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
27. 27.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
28. 28.Nisha’s stall took in ₹260 on Friday, ₹80 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
29. 29.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
30. 30.Arjun’s income was ₹150 and the profit was ₹50. One expense was ₹80 (lemons). How much was the other expense, for transport (in ₹)?
31. 31.📒 Income or expense: buying lemons? (a) income (b) expense
32. 32.Meera’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
33. 33.Farhan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹140 (posters)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: money from sales? (a) expense (b) income
35. 35.Kavya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹280 (transport)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
36. 36.True or false: “paying the stall fee” is income (money in). (a) False (b) True
37. 37.📒 Income or expense: tutoring fees received? (a) income (b) expense
38. 38.Rohan’s income was ₹390 and the profit was ₹20. One expense was ₹280 (ribbon). How much was the other expense, for stall fee (in ₹)?
39. 39.True or false: “buying lemons” is an expense (money out). (a) True (b) False
40. 40.Aarav’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?

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