Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 168 · 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.Kabir’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹50 (ribbon)
   Expense: ₹320 (stall fee)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: buying lemons? (a) expense (b) income
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.Ishaan’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹70 (transport)
   Expense: ₹50 (posters)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: cash from selling plants? (a) expense (b) income
6. 6.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) tutoring fees received
9. 9.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
10. 10.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
11. 11.True or false: “printing posters” is an expense (money out). (a) True (b) False
12. 12.Zoya’s income was ₹390 and the profit was ₹50. One expense was ₹70 (transport). How much was the other expense, for card paper (in ₹)?
13. 13.📒 Income or expense: buying paper cups? (a) income (b) expense
14. 14.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
15. 15.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) a card order paid (d) cash from selling plants
16. 16.Kavya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
17. 17.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
18. 18.Tara’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹110 (posters)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
19. 19.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) cash from selling plants
20. 20.📒 Income or expense: bus fare to the market? (a) expense (b) income
21. 21.Nisha’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
22. 22.True or false: “buying paper cups” is income (money in). (a) True (b) False
23. 23.Meera’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹240 (card paper)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
24. 24.Lakshmi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (transport)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) tutoring fees received (d) paying the stall fee
26. 26.Riya’s income was ₹360 and the profit was ₹200. One expense was ₹100 (posters). How much was the other expense, for sugar (in ₹)?
27. 27.Zoya’s income was ₹500 and the profit was ₹10. One expense was ₹460 (lemons). How much was the other expense, for transport (in ₹)?
28. 28.Rohan’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
29. 29.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
30. 30.Kabir’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹200 (card paper)
    How much is the loss (in ₹)?
31. 31.📒 Income or expense: a card order paid? (a) income (b) expense
32. 32.Zoya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
33. 33.Zoya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
34. 34.Ishaan’s stall took in ₹350 on Friday, ₹160 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
35. 35.Ishaan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (posters)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
37. 37.Dev’s stall took in ₹210 on Friday, ₹60 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
38. 38.Vihaan’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
39. 39.Rohan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
40. 40.True or false: “a card order paid” is income (money in). (a) True (b) False

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