Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 159 · 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.Nisha’s income was ₹400 and the profit was ₹250. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
2. 2.📒 Income or expense: a card order paid? (a) income (b) expense
3. 3.Aarav’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹30 (transport)
   Expense: ₹60 (ribbon)
   What is the profit (in ₹)?
4. 4.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) a card order paid (d) money from sales
5. 5.Kavya’s income was ₹400 and the profit was ₹360. One expense was ₹30 (sugar). How much was the other expense, for stall fee (in ₹)?
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) tutoring fees received (d) printing posters
7. 7.True or false: “a card order paid” is an expense (money out). (a) False (b) True
8. 8.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
9. 9.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) bus fare to the market (d) buying lemons
10. 10.Saanvi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
11. 11.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
12. 12.Nisha’s income was ₹290 and the profit was ₹20. One expense was ₹70 (stall fee). How much was the other expense, for transport (in ₹)?
13. 13.Dev’s stall took in ₹260 on Friday, ₹210 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) bus fare to the market (d) paying the stall fee
15. 15.📒 Income or expense: payment for a cake order? (a) expense (b) income
16. 16.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: money from sales? (a) expense (b) income
18. 18.Zoya’s stall took in ₹340 on Friday, ₹170 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: printing posters? (a) expense (b) income
20. 20.Riya’s income was ₹380 and the profit was ₹80. One expense was ₹90 (paper cups). How much was the other expense, for card paper (in ₹)?
21. 21.Aarav’s stall took in ₹260 on Friday, ₹80 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
22. 22.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
23. 23.Gurpreet’s stall took in ₹400 on Friday, ₹290 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: bus fare to the market? (a) expense (b) income
25. 25.📒 Income or expense: buying lemons? (a) income (b) expense
26. 26.Diya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
27. 27.Kavya’s income was ₹160 and the profit was ₹130. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
28. 28.True or false: “a card order paid” is income (money in). (a) True (b) False
29. 29.📒 Income or expense: buying paper cups? (a) expense (b) income
30. 30.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹220 (posters)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
31. 31.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
32. 32.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
33. 33.Nisha’s income was ₹130 and the profit was ₹10. One expense was ₹40 (posters). How much was the other expense, for paper cups (in ₹)?
34. 34.True or false: “money from sales” is an expense (money out). (a) False (b) True
35. 35.True or false: “buying paper cups” is income (money in). (a) False (b) True
36. 36.True or false: “tutoring fees received” is income (money in). (a) False (b) True
37. 37.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
38. 38.Farhan’s stall took in ₹400 on Friday, ₹390 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
39. 39.Meera’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
40. 40.True or false: “bus fare to the market” is income (money in). (a) False (b) True

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