Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 246 · 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 a rainy day:
   Income: ₹120 (sales)
   Expense: ₹110 (ribbon)
   Expense: ₹30 (lemons)
   How much is the loss (in ₹)?
2. 2.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
3. 3.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) bus fare to the market
5. 5.Rohan’s stall took in ₹120 on Friday, ₹240 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) payment for a cake order
8. 8.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
9. 9.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) money from sales (d) a card order paid
10. 10.📒 Income or expense: printing posters? (a) income (b) expense
11. 11.Arjun’s income was ₹460 and the profit was ₹130. One expense was ₹110 (sugar). How much was the other expense, for posters (in ₹)?
12. 12.Meera’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
13. 13.Lakshmi’s income was ₹480 and the profit was ₹270. One expense was ₹30 (stall fee). How much was the other expense, for sugar (in ₹)?
14. 14.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) payment for a cake order (d) cash from selling plants
15. 15.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
16. 16.Tara’s stall took in ₹100 on Friday, ₹210 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
17. 17.Dev’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) a card order paid (d) bus fare to the market
19. 19.Nisha’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
20. 20.Kabir’s income was ₹120 and the profit was ₹30. One expense was ₹80 (transport). How much was the other expense, for posters (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.True or false: “a card order paid” is income (money in). (a) True (b) False
23. 23.📒 Income or expense: paying the stall fee? (a) expense (b) income
24. 24.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) paying the stall fee (d) buying paper cups
25. 25.Zoya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
26. 26.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
27. 27.Rohan’s income was ₹380 and the profit was ₹230. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
28. 28.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.Joseph’s income was ₹100 and the profit was ₹70. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?
31. 31.Farhan’s stall took in ₹270 on Friday, ₹150 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
32. 32.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
33. 33.Kabir’s income was ₹330 and the profit was ₹190. One expense was ₹90 (stall fee). How much was the other expense, for lemons (in ₹)?
34. 34.Ishaan’s income was ₹250 and the profit was ₹140. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
35. 35.True or false: “printing posters” is income (money in). (a) True (b) False
36. 36.📒 Income or expense: buying paper cups? (a) income (b) expense
37. 37.Tara’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
38. 38.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
39. 39.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) printing posters (d) buying paper cups
40. 40.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) printing posters

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