Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 196 · 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) expenses − income (c) just the income (d) income + expenses
2. 2.Meera’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹30 (stall fee)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
3. 3.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.Aarav’s income was ₹360 and the profit was ₹130. One expense was ₹160 (ribbon). How much was the other expense, for transport (in ₹)?
6. 6.📒 Income or expense: printing posters? (a) expense (b) income
7. 7.Joseph’s income was ₹120 and the profit was ₹50. One expense was ₹40 (card paper). How much was the other expense, for stall fee (in ₹)?
8. 8.Diya’s stall took in ₹120 on Friday, ₹170 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
9. 9.Gurpreet’s income was ₹230 and the profit was ₹130. One expense was ₹20 (stall fee). How much was the other expense, for posters (in ₹)?
10. 10.True or false: “buying lemons” is an expense (money out). (a) False (b) True
11. 11.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
12. 12.Kavya’s income was ₹140 and the profit was ₹90. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
13. 13.Ananya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
14. 14.Lakshmi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
15. 15.Riya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: money from sales? (a) income (b) expense
17. 17.📒 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
18. 18.True or false: “paying the stall fee” is income (money in). (a) False (b) True
19. 19.📒 Income or expense: payment for a cake order? (a) income (b) expense
20. 20.Rohan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
21. 21.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) bus fare to the market
23. 23.Saanvi’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
25. 25.True or false: “payment for a cake order” is income (money in). (a) True (b) False
26. 26.Ishaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹300 (paper cups)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: buying lemons? (a) expense (b) income
28. 28.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) buying lemons (d) money from sales
29. 29.Meera’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
30. 30.Saanvi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
31. 31.Meera’s stall took in ₹250 on Friday, ₹310 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
32. 32.Riya’s income was ₹290 and the profit was ₹240. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
33. 33.True or false: “cash from selling plants” is income (money in). (a) False (b) True
34. 34.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
35. 35.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) tutoring fees received (d) bus fare to the market
36. 36.📒 Income or expense: paying the stall fee? (a) income (b) expense
37. 37.Rohan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
38. 38.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying paper cups (d) payment for a cake order
39. 39.Diya’s income was ₹330 and the profit was ₹160. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?
40. 40.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) printing posters

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