Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 283 · 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.📒 Income or expense: buying lemons? (a) income (b) expense
2. 2.Farhan’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹200 (posters)
   Expense: ₹40 (sugar)
   What is the profit (in ₹)?
3. 3.Meera’s stall took in ₹190 on Friday, ₹170 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) buying lemons (d) buying paper cups
5. 5.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
6. 6.True or false: “buying lemons” is income (money in). (a) False (b) True
7. 7.Ishaan’s record for the day:
   Income: ₹460 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹140 (posters)
   Expense: ₹150 (lemons)
   What is the profit (in ₹)?
8. 8.Kabir’s stall took in ₹60 on Friday, ₹90 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.Lakshmi’s income was ₹270 and the profit was ₹220. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
11. 11.Saanvi’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
12. 12.Arjun’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
13. 13.Ishaan’s income was ₹420 and the profit was ₹30. One expense was ₹130 (transport). How much was the other expense, for sugar (in ₹)?
14. 14.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
15. 15.📒 Income or expense: payment for a cake order? (a) income (b) expense
16. 16.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
17. 17.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
18. 18.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) a card order paid (d) buying lemons
19. 19.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
20. 20.Arjun’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) bus fare to the market (d) money from sales
22. 22.📒 Income or expense: a card order paid? (a) expense (b) income
23. 23.Gurpreet’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
24. 24.Kavya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
25. 25.Vihaan’s income was ₹450 and the profit was ₹410. One expense was ₹20 (stall fee). How much was the other expense, for ribbon (in ₹)?
26. 26.📒 Income or expense: cash from selling plants? (a) expense (b) income
27. 27.Kavya’s income was ₹240 and the profit was ₹170. One expense was ₹20 (posters). How much was the other expense, for paper cups (in ₹)?
28. 28.Rohan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
29. 29.Joseph’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) printing posters (d) buying lemons
31. 31.Aarav’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹60 (posters)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
32. 32.Diya’s income was ₹490 and the profit was ₹70. One expense was ₹40 (ribbon). How much was the other expense, for sugar (in ₹)?
33. 33.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) printing posters (d) a card order paid
34. 34.Riya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
35. 35.Nisha’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹220 (transport)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.Saanvi’s income was ₹190 and the profit was ₹120. One expense was ₹20 (transport). How much was the other expense, for card paper (in ₹)?
38. 38.Saanvi’s income was ₹490 and the profit was ₹370. One expense was ₹70 (card paper). How much was the other expense, for sugar (in ₹)?
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) payment for a cake order
40. 40.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False

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