Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 203 · 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.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
2. 2.Rohan’s income was ₹180 and the profit was ₹60. One expense was ₹40 (transport). How much was the other expense, for posters (in ₹)?
3. 3.📒 Income or expense: paying the stall fee? (a) income (b) expense
4. 4.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
5. 5.Ananya’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹180 (posters)
   Expense: ₹90 (ribbon)
   What is the profit (in ₹)?
6. 6.Nisha’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹40 (lemons)
   Expense: ₹50 (ribbon)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: bus fare to the market? (a) income (b) expense
8. 8.📒 Income or expense: payment for a cake order? (a) income (b) expense
9. 9.Dev’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹70 (paper cups)
   Expense: ₹140 (sugar)
   What is the profit (in ₹)?
10. 10.Arjun’s income was ₹490 and the profit was ₹50. One expense was ₹80 (posters). How much was the other expense, for ribbon (in ₹)?
11. 11.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
12. 12.Aarav’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
13. 13.True or false: “tutoring fees received” is income (money in). (a) True (b) False
14. 14.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) buying lemons (d) tutoring fees received
15. 15.Kabir’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
16. 16.True or false: “payment for a cake order” is income (money in). (a) True (b) False
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.Meera’s income was ₹190 and the profit was ₹100. One expense was ₹20 (posters). How much was the other expense, for sugar (in ₹)?
19. 19.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) tutoring fees received
20. 20.Arjun’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
22. 22.True or false: “money from sales” is an expense (money out). (a) False (b) True
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) buying lemons
24. 24.Vihaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹250 (transport)
    How much is the loss (in ₹)?
25. 25.📒 Income or expense: tutoring fees received? (a) income (b) expense
26. 26.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) paying the stall fee
27. 27.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
28. 28.Vihaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
29. 29.True or false: “printing posters” is income (money in). (a) True (b) False
30. 30.Dev’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
31. 31.Zoya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) tutoring fees received (d) money from sales
33. 33.Tara’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
34. 34.Ananya’s income was ₹450 and the profit was ₹160. One expense was ₹230 (paper cups). How much was the other expense, for ribbon (in ₹)?
35. 35.Farhan’s income was ₹110 and the profit was ₹40. One expense was ₹20 (lemons). How much was the other expense, for ribbon (in ₹)?
36. 36.True or false: “buying paper cups” is income (money in). (a) True (b) False
37. 37.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) payment for a cake order (d) paying the stall fee
38. 38.Ananya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
39. 39.Aarav’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
40. 40.Joseph’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?

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