Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 175 · 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 income was ₹280 and the profit was ₹50. One expense was ₹50 (lemons). How much was the other expense, for posters (in ₹)?
2. 2.Lakshmi’s stall took in ₹200 on Friday, ₹150 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.Gurpreet’s income was ₹390 and the profit was ₹120. One expense was ₹200 (sugar). How much was the other expense, for ribbon (in ₹)?
5. 5.📒 Income or expense: a card order paid? (a) income (b) expense
6. 6.Zoya’s stall took in ₹390 on Friday, ₹390 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
7. 7.Joseph’s income was ₹210 and the profit was ₹100. One expense was ₹60 (lemons). How much was the other expense, for paper cups (in ₹)?
8. 8.📒 Income or expense: payment for a cake order? (a) expense (b) income
9. 9.True or false: “cash from selling plants” is income (money in). (a) True (b) False
10. 10.Aarav’s income was ₹150 and the profit was ₹20. One expense was ₹10 (paper cups). How much was the other expense, for sugar (in ₹)?
11. 11.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
12. 12.Kabir’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
13. 13.True or false: “a card order paid” is an expense (money out). (a) True (b) False
14. 14.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) buying lemons (d) payment for a cake order
15. 15.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
16. 16.True or false: “money from sales” is income (money in). (a) True (b) False
17. 17.True or false: “tutoring fees received” is income (money in). (a) False (b) True
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.True or false: “money from sales” is an expense (money out). (a) False (b) True
20. 20.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
21. 21.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) money from sales (d) a card order paid
22. 22.Diya’s income was ₹260 and the profit was ₹110. One expense was ₹90 (sugar). How much was the other expense, for stall fee (in ₹)?
23. 23.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
24. 24.Ishaan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹260 (card paper)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
25. 25.Vihaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹180 (ribbon)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: tutoring fees received? (a) income (b) expense
27. 27.Kabir’s income was ₹170 and the profit was ₹10. One expense was ₹100 (sugar). How much was the other expense, for card paper (in ₹)?
28. 28.Lakshmi’s stall took in ₹400 on Friday, ₹110 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: paying the stall fee? (a) expense (b) income
30. 30.Lakshmi’s income was ₹180 and the profit was ₹60. One expense was ₹50 (paper cups). How much was the other expense, for stall fee (in ₹)?
31. 31.Vihaan’s income was ₹350 and the profit was ₹250. One expense was ₹20 (transport). How much was the other expense, for card paper (in ₹)?
32. 32.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
33. 33.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) buying lemons (d) cash from selling plants
34. 34.Rohan’s stall took in ₹50 on Friday, ₹270 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) money from sales (d) paying the stall fee
36. 36.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
37. 37.Meera’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹160 (posters)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
38. 38.True or false: “buying lemons” is an expense (money out). (a) True (b) False
39. 39.True or false: “printing posters” is income (money in). (a) False (b) True
40. 40.Dev’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹580 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?

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