Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 289 · 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) tutoring fees received (b) cash from selling plants (c) money from sales (d) bus fare to the market
2. 2.Ananya’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹440 (evening sales)
   Expense: ₹100 (ribbon)
   Expense: ₹170 (transport)
   What is the profit (in ₹)?
3. 3.True or false: “printing posters” is income (money in). (a) False (b) True
4. 4.Riya’s income was ₹190 and the profit was ₹90. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?
5. 5.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) printing posters (d) buying lemons
6. 6.Nisha’s income was ₹290 and the profit was ₹80. One expense was ₹50 (posters). How much was the other expense, for stall fee (in ₹)?
7. 7.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
8. 8.Lakshmi’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹110 (transport)
   Expense: ₹110 (paper cups)
   What is the profit (in ₹)?
9. 9.Meera’s income was ₹340 and the profit was ₹110. One expense was ₹130 (ribbon). How much was the other expense, for lemons (in ₹)?
10. 10.📒 Income or expense: buying paper cups? (a) income (b) expense
11. 11.📒 Income or expense: buying lemons? (a) expense (b) income
12. 12.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) payment for a cake order
13. 13.📒 Income or expense: payment for a cake order? (a) income (b) expense
14. 14.True or false: “buying lemons” is income (money in). (a) False (b) True
15. 15.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
16. 16.True or false: “money from sales” is an expense (money out). (a) False (b) True
17. 17.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
18. 18.Arjun’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹180 (paper cups)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
19. 19.Rohan’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
20. 20.Ananya’s income was ₹400 and the profit was ₹90. One expense was ₹300 (paper cups). How much was the other expense, for lemons (in ₹)?
21. 21.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) buying lemons
22. 22.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
23. 23.Diya’s income was ₹410 and the profit was ₹170. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
24. 24.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (transport)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
25. 25.Diya’s income was ₹230 and the profit was ₹10. One expense was ₹170 (stall fee). How much was the other expense, for card paper (in ₹)?
26. 26.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
27. 27.Diya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: bus fare to the market? (a) income (b) expense
29. 29.Rohan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
30. 30.Kavya’s stall took in ₹400 on Friday, ₹270 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Dev’s stall took in ₹80 on Friday, ₹50 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “buying lemons” is an expense (money out). (a) True (b) False
33. 33.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) cash from selling plants
34. 34.Ishaan’s stall took in ₹140 on Friday, ₹120 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
35. 35.Kabir’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (transport)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
36. 36.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) tutoring fees received
37. 37.Arjun’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
38. 38.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
39. 39.Gurpreet’s income was ₹280 and the profit was ₹10. One expense was ₹150 (card paper). How much was the other expense, for sugar (in ₹)?
40. 40.📒 Income or expense: cash from selling plants? (a) expense (b) income

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