Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 189 · 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.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
2. 2.Riya’s income was ₹170 and the profit was ₹10. One expense was ₹100 (stall fee). How much was the other expense, for sugar (in ₹)?
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) printing posters
4. 4.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) cash from selling plants (d) payment for a cake order
5. 5.📒 Income or expense: paying the stall fee? (a) expense (b) income
6. 6.Diya’s income was ₹100 and the profit was ₹20. One expense was ₹40 (transport). How much was the other expense, for posters (in ₹)?
7. 7.True or false: “money from sales” is an expense (money out). (a) True (b) False
8. 8.Diya’s income was ₹470 and the profit was ₹260. One expense was ₹80 (lemons). How much was the other expense, for paper cups (in ₹)?
9. 9.Nisha’s record for the day:
   Income: ₹380 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹200 (paper cups)
   Expense: ₹50 (stall fee)
   What is the profit (in ₹)?
10. 10.True or false: “cash from selling plants” is income (money in). (a) True (b) False
11. 11.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
12. 12.📒 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
13. 13.📒 Income or expense: printing posters? (a) income (b) expense
14. 14.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
15. 15.True or false: “tutoring fees received” is income (money in). (a) False (b) True
16. 16.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
17. 17.Dev’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
18. 18.Gurpreet’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
19. 19.Lakshmi’s stall took in ₹290 on Friday, ₹250 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying paper cups (d) tutoring fees received
21. 21.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
22. 22.Nisha’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: tutoring fees received? (a) income (b) expense
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.📒 Income or expense: money from sales? (a) expense (b) income
27. 27.True or false: “a card order paid” is an expense (money out). (a) True (b) False
28. 28.📒 Income or expense: bus fare to the market? (a) income (b) expense
29. 29.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) cash from selling plants (d) bus fare to the market
30. 30.Saanvi’s stall took in ₹230 on Friday, ₹370 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “a card order paid” is income (money in). (a) True (b) False
32. 32.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) money from sales (d) cash from selling plants
33. 33.Vihaan’s stall took in ₹200 on Friday, ₹300 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
35. 35.Gurpreet’s income was ₹310 and the profit was ₹50. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
36. 36.Rohan’s stall took in ₹190 on Friday, ₹70 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
37. 37.Aarav’s stall took in ₹310 on Friday, ₹150 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
38. 38.Aarav’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
39. 39.Kabir’s stall took in ₹250 on Friday, ₹160 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
40. 40.Gurpreet’s stall took in ₹180 on Friday, ₹240 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?

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