Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 258 · 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.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) paying the stall fee (d) buying paper cups
2. 2.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
3. 3.Arjun’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
4. 4.True or false: “buying paper cups” is income (money in). (a) True (b) False
5. 5.Vihaan’s stall took in ₹220 on Friday, ₹80 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) buying paper cups
7. 7.Ishaan’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹150 (ribbon)
   Expense: ₹60 (paper cups)
   How much is the loss (in ₹)?
8. 8.Kabir’s stall took in ₹320 on Friday, ₹140 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
9. 9.Joseph’s stall took in ₹300 on Friday, ₹190 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
10. 10.Dev’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹170 (stall fee)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
11. 11.Ananya’s income was ₹200 and the profit was ₹130. One expense was ₹60 (transport). How much was the other expense, for paper cups (in ₹)?
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
13. 13.📒 Income or expense: tutoring fees received? (a) income (b) expense
14. 14.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) money from sales (d) buying lemons
15. 15.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
16. 16.📒 Income or expense: money from sales? (a) income (b) expense
17. 17.True or false: “payment for a cake order” is income (money in). (a) True (b) False
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (posters)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) printing posters (d) bus fare to the market
21. 21.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
22. 22.True or false: “a card order paid” is an expense (money out). (a) False (b) True
23. 23.📒 Income or expense: cash from selling plants? (a) income (b) expense
24. 24.Gurpreet’s stall took in ₹240 on Friday, ₹160 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) cash from selling plants (d) money from sales
26. 26.Farhan’s stall took in ₹170 on Friday, ₹400 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
27. 27.Aarav’s stall took in ₹270 on Friday, ₹210 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
28. 28.Rohan’s stall took in ₹330 on Friday, ₹110 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
29. 29.Kavya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) a card order paid (d) printing posters
31. 31.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
32. 32.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
33. 33.Arjun’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹150 (paper cups)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: a card order paid? (a) income (b) expense
35. 35.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
36. 36.Arjun’s stall took in ₹340 on Friday, ₹360 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
37. 37.Arjun’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (posters)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
38. 38.Arjun’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
39. 39.Meera’s income was ₹380 and the profit was ₹210. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
40. 40.Meera’s stall took in ₹220 on Friday, ₹110 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?

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