Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 270 · 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.Arjun’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹90 (ribbon)
   Expense: ₹70 (paper cups)
   What is the profit (in ₹)?
2. 2.Vihaan’s income was ₹500 and the profit was ₹70. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
3. 3.True or false: “bus fare to the market” is income (money in). (a) True (b) False
4. 4.Riya’s income was ₹470 and the profit was ₹310. One expense was ₹40 (ribbon). How much was the other expense, for paper cups (in ₹)?
5. 5.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
6. 6.📒 Income or expense: bus fare to the market? (a) income (b) expense
7. 7.True or false: “money from sales” is income (money in). (a) False (b) True
8. 8.📒 Income or expense: paying the stall fee? (a) expense (b) income
9. 9.True or false: “buying paper cups” is income (money in). (a) True (b) False
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
11. 11.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
12. 12.True or false: “buying lemons” is income (money in). (a) True (b) False
13. 13.Ishaan’s stall took in ₹400 on Friday, ₹280 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: cash from selling plants? (a) expense (b) income
15. 15.Saanvi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
16. 16.Lakshmi’s stall took in ₹140 on Friday, ₹260 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
17. 17.Aarav’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: printing posters? (a) expense (b) income
19. 19.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) tutoring fees received
20. 20.Gurpreet’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
21. 21.True or false: “a card order paid” is an expense (money out). (a) True (b) False
22. 22.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
23. 23.Riya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
25. 25.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) bus fare to the market (d) buying paper cups
26. 26.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) bus fare to the market (d) printing posters
28. 28.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
29. 29.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
30. 30.Meera’s income was ₹330 and the profit was ₹230. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?
31. 31.Kabir’s income was ₹150 and the profit was ₹30. One expense was ₹40 (lemons). How much was the other expense, for sugar (in ₹)?
32. 32.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
33. 33.Rohan’s income was ₹250 and the profit was ₹210. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
34. 34.📒 Income or expense: a card order paid? (a) expense (b) income
35. 35.Saanvi’s stall took in ₹400 on Friday, ₹250 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: payment for a cake order? (a) expense (b) income
37. 37.True or false: “payment for a cake order” is income (money in). (a) True (b) False
38. 38.True or false: “printing posters” is income (money in). (a) True (b) False
39. 39.📒 Income or expense: buying lemons? (a) expense (b) income
40. 40.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?

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