Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 263 · 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 an expense (money out)? (a) money from sales (b) printing posters (c) a card order paid (d) payment for a cake order
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
3. 3.Farhan’s income was ₹180 and the profit was ₹160. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
4. 4.📒 Income or expense: buying lemons? (a) expense (b) income
5. 5.📒 Income or expense: buying paper cups? (a) income (b) expense
6. 6.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
7. 7.Aarav’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹400 (evening sales)
   Expense: ₹200 (paper cups)
   Expense: ₹170 (transport)
   What is the profit (in ₹)?
8. 8.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) tutoring fees received (d) printing posters
9. 9.Saanvi’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹40 (sugar)
   Expense: ₹160 (lemons)
   How much is the loss (in ₹)?
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) bus fare to the market (d) buying lemons
11. 11.📒 Income or expense: cash from selling plants? (a) income (b) expense
12. 12.Farhan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
13. 13.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) buying lemons (d) paying the stall fee
14. 14.📒 Income or expense: tutoring fees received? (a) income (b) expense
15. 15.Gurpreet’s stall took in ₹370 on Friday, ₹260 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “payment for a cake order” is income (money in). (a) False (b) True
17. 17.Farhan’s stall took in ₹230 on Friday, ₹100 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: money from sales? (a) expense (b) income
19. 19.Farhan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
20. 20.Gurpreet’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
21. 21.Nisha’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹180 (posters)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
22. 22.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
23. 23.📒 Income or expense: bus fare to the market? (a) income (b) expense
24. 24.Joseph’s income was ₹300 and the profit was ₹100. One expense was ₹50 (sugar). How much was the other expense, for lemons (in ₹)?
25. 25.Tara’s stall took in ₹310 on Friday, ₹330 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “money from sales” is income (money in). (a) True (b) False
27. 27.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) buying paper cups
28. 28.Lakshmi’s stall took in ₹70 on Friday, ₹60 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: a card order paid? (a) income (b) expense
30. 30.Farhan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹180 (ribbon)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
31. 31.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) buying paper cups
32. 32.True or false: “buying lemons” is income (money in). (a) False (b) True
33. 33.Zoya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
34. 34.Ananya’s income was ₹360 and the profit was ₹10. One expense was ₹90 (card paper). How much was the other expense, for lemons (in ₹)?
35. 35.Saanvi’s income was ₹100 and the profit was ₹60. One expense was ₹30 (lemons). How much was the other expense, for paper cups (in ₹)?
36. 36.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
37. 37.Ishaan’s income was ₹260 and the profit was ₹230. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
38. 38.Vihaan’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
39. 39.Ananya’s income was ₹330 and the profit was ₹80. One expense was ₹50 (posters). How much was the other expense, for ribbon (in ₹)?
40. 40.Saanvi’s income was ₹440 and the profit was ₹60. One expense was ₹180 (ribbon). How much was the other expense, for paper cups (in ₹)?

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