Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 179 · 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.Rohan’s income was ₹110 and the profit was ₹10. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
2. 2.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
3. 3.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) bus fare to the market (d) tutoring fees received
4. 4.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
5. 5.True or false: “buying lemons” is an expense (money out). (a) False (b) True
6. 6.📒 Income or expense: paying the stall fee? (a) expense (b) income
7. 7.Rohan’s stall took in ₹70 on Friday, ₹60 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: payment for a cake order? (a) expense (b) income
9. 9.Meera’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹110 (paper cups)
   Expense: ₹40 (card paper)
   What is the profit (in ₹)?
10. 10.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) bus fare to the market (d) printing posters
11. 11.Ishaan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹160 (ribbon)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
12. 12.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) money from sales (d) cash from selling plants
13. 13.True or false: “cash from selling plants” is income (money in). (a) True (b) False
14. 14.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) printing posters (d) payment for a cake order
15. 15.Joseph’s stall took in ₹390 on Friday, ₹230 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
16. 16.📒 Income or expense: cash from selling plants? (a) expense (b) income
17. 17.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
18. 18.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) tutoring fees received (d) payment for a cake order
19. 19.📒 Income or expense: buying paper cups? (a) income (b) expense
20. 20.Riya’s stall took in ₹260 on Friday, ₹120 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
21. 21.Zoya’s income was ₹400 and the profit was ₹150. One expense was ₹130 (transport). How much was the other expense, for lemons (in ₹)?
22. 22.📒 Income or expense: bus fare to the market? (a) expense (b) income
23. 23.Joseph’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
24. 24.Rohan’s stall took in ₹300 on Friday, ₹240 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
25. 25.Riya’s income was ₹130 and the profit was ₹10. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
26. 26.Nisha’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
27. 27.True or false: “money from sales” is an expense (money out). (a) False (b) True
28. 28.📒 Income or expense: tutoring fees received? (a) income (b) expense
29. 29.Meera’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
30. 30.Gurpreet’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
31. 31.Gurpreet’s income was ₹370 and the profit was ₹250. One expense was ₹90 (posters). How much was the other expense, for transport (in ₹)?
32. 32.Ishaan’s income was ₹250 and the profit was ₹130. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
33. 33.True or false: “printing posters” is income (money in). (a) False (b) True
34. 34.Farhan’s income was ₹480 and the profit was ₹310. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
35. 35.Ananya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹70 (transport)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
36. 36.📒 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
37. 37.Ishaan’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
38. 38.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) cash from selling plants
39. 39.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
40. 40.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) bus fare to the market

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