Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 221 · 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.Nisha’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹20 (card paper)
   Expense: ₹90 (ribbon)
   What is the profit (in ₹)?
2. 2.Saanvi’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹150 (posters)
   Expense: ₹150 (card paper)
   What is the profit (in ₹)?
3. 3.Rohan’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹130 (paper cups)
   Expense: ₹150 (sugar)
   How much is the loss (in ₹)?
4. 4.Ishaan’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹150 (card paper)
   Expense: ₹150 (ribbon)
   How much is the loss (in ₹)?
5. 5.True or false: “buying lemons” is income (money in). (a) False (b) True
6. 6.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying lemons (d) buying paper cups
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) payment for a cake order (d) a card order paid
8. 8.Ishaan’s record for the day:
   Income: ₹410 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹140 (transport)
   Expense: ₹160 (paper cups)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
11. 11.True or false: “a card order paid” is an expense (money out). (a) False (b) True
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
13. 13.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
14. 14.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
15. 15.Farhan’s income was ₹320 and the profit was ₹270. One expense was ₹40 (stall fee). How much was the other expense, for posters (in ₹)?
16. 16.Lakshmi’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
17. 17.Ananya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
18. 18.True or false: “paying the stall fee” is income (money in). (a) True (b) False
19. 19.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
20. 20.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) bus fare to the market (d) cash from selling plants
21. 21.📒 Income or expense: buying lemons? (a) income (b) expense
22. 22.📒 Income or expense: paying the stall fee? (a) income (b) expense
23. 23.True or false: “cash from selling plants” is income (money in). (a) True (b) False
24. 24.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) tutoring fees received (d) a card order paid
25. 25.Kavya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: payment for a cake order? (a) income (b) expense
27. 27.Arjun’s stall took in ₹370 on Friday, ₹90 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “printing posters” is an expense (money out). (a) False (b) True
29. 29.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying paper cups (d) payment for a cake order
31. 31.Vihaan’s income was ₹350 and the profit was ₹170. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
32. 32.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
33. 33.Nisha’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹100 (posters)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
34. 34.Saanvi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
35. 35.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: bus fare to the market? (a) income (b) expense
37. 37.Ishaan’s stall took in ₹260 on Friday, ₹310 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
38. 38.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
39. 39.📒 Income or expense: printing posters? (a) expense (b) income
40. 40.Dev’s income was ₹350 and the profit was ₹80. One expense was ₹230 (posters). How much was the other expense, for lemons (in ₹)?

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