Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 210 · 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.Aarav’s stall took in ₹280 on Friday, ₹250 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) buying paper cups (d) paying the stall fee
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.Ananya’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹120 (ribbon)
   Expense: ₹110 (posters)
   What is the profit (in ₹)?
8. 8.Rohan’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹180 (ribbon)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
9. 9.Meera’s stall took in ₹80 on Friday, ₹240 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “money from sales” is income (money in). (a) True (b) False
11. 11.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) money from sales
12. 12.True or false: “a card order paid” is income (money in). (a) True (b) False
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) printing posters (d) bus fare to the market
15. 15.Riya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
16. 16.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) a card order paid
18. 18.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
19. 19.Zoya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
20. 20.Joseph’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
22. 22.Kabir’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹270 (posters)
    How much is the loss (in ₹)?
23. 23.Ishaan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
24. 24.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) cash from selling plants
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying lemons (d) tutoring fees received
26. 26.📒 Income or expense: bus fare to the market? (a) income (b) expense
27. 27.Ishaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
28. 28.Rohan’s income was ₹290 and the profit was ₹170. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
29. 29.📒 Income or expense: tutoring fees received? (a) income (b) expense
30. 30.Tara’s stall took in ₹230 on Friday, ₹150 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
31. 31.Vihaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
32. 32.Kabir’s income was ₹430 and the profit was ₹250. One expense was ₹40 (lemons). How much was the other expense, for stall fee (in ₹)?
33. 33.Diya’s income was ₹270 and the profit was ₹100. One expense was ₹130 (ribbon). How much was the other expense, for paper cups (in ₹)?
34. 34.Vihaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
35. 35.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
36. 36.Rohan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹350 (ribbon)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
37. 37.Diya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
38. 38.Ananya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
39. 39.Dev’s income was ₹120 and the profit was ₹100. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
40. 40.Joseph’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?

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