Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 178 · 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.Aarav’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹240 (ribbon)
   Expense: ₹130 (sugar)
   How much is the loss (in ₹)?
2. 2.Riya’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹170 (posters)
   What is the profit (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
4. 4.Aarav’s stall took in ₹250 on Friday, ₹400 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
5. 5.Farhan’s stall took in ₹170 on Friday, ₹70 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
7. 7.Nisha’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹100 (lemons)
   Expense: ₹110 (card paper)
   How much is the loss (in ₹)?
8. 8.True or false: “payment for a cake order” is income (money in). (a) False (b) True
9. 9.Joseph’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹70 (sugar)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) income (b) expense
11. 11.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) bus fare to the market (d) a card order paid
14. 14.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
15. 15.📒 Income or expense: money from sales? (a) income (b) expense
16. 16.True or false: “printing posters” is income (money in). (a) True (b) False
17. 17.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
18. 18.Tara’s income was ₹310 and the profit was ₹40. One expense was ₹160 (sugar). How much was the other expense, for lemons (in ₹)?
19. 19.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
20. 20.Saanvi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
21. 21.Saanvi’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
22. 22.Vihaan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹50 (transport)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
23. 23.Ishaan’s income was ₹380 and the profit was ₹140. One expense was ₹70 (stall fee). How much was the other expense, for paper cups (in ₹)?
24. 24.True or false: “paying the stall fee” is income (money in). (a) False (b) True
25. 25.Diya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (posters)
    Expense: ₹160 (stall fee)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: buying lemons? (a) income (b) expense
27. 27.Rohan’s stall took in ₹70 on Friday, ₹240 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: printing posters? (a) expense (b) income
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) tutoring fees received
30. 30.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) buying lemons (d) bus fare to the market
31. 31.📒 Income or expense: bus fare to the market? (a) expense (b) income
32. 32.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) tutoring fees received (d) money from sales
33. 33.True or false: “tutoring fees received” is income (money in). (a) False (b) True
34. 34.Saanvi’s record for the day:
    Income: ₹550 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
35. 35.True or false: “money from sales” is income (money in). (a) True (b) False
36. 36.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) buying lemons
37. 37.Dev’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) buying paper cups
39. 39.Tara’s income was ₹340 and the profit was ₹140. One expense was ₹70 (lemons). How much was the other expense, for card paper (in ₹)?
40. 40.Dev’s income was ₹450 and the profit was ₹50. One expense was ₹120 (stall fee). How much was the other expense, for card paper (in ₹)?

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