Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 31 · 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.Joseph’s income was ₹280 and the profit was ₹160. One expense was ₹100 (paper cups). How much was the other expense, for transport (in ₹)?
2. 2.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying lemons (d) a card order paid
3. 3.Diya’s income was ₹120 and the profit was ₹50. One expense was ₹30 (lemons). How much was the other expense, for paper cups (in ₹)?
4. 4.Dev’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹40 (transport)
   Expense: ₹140 (paper cups)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: buying paper cups? (a) expense (b) income
6. 6.True or false: “money from sales” is an expense (money out). (a) True (b) False
7. 7.Dev’s income was ₹450 and the profit was ₹330. One expense was ₹30 (sugar). How much was the other expense, for posters (in ₹)?
8. 8.📒 Income or expense: cash from selling plants? (a) expense (b) income
9. 9.Zoya’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹60 (stall fee)
   What is the profit (in ₹)?
10. 10.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹160 (card paper)
    How much is the loss (in ₹)?
11. 11.Gurpreet’s stall took in ₹130 on Friday, ₹150 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: printing posters? (a) expense (b) income
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) bus fare to the market (d) payment for a cake order
15. 15.Kavya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹170 (posters)
    How much is the loss (in ₹)?
16. 16.True or false: “a card order paid” is income (money in). (a) False (b) True
17. 17.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
19. 19.📒 Income or expense: bus fare to the market? (a) income (b) expense
20. 20.Vihaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
21. 21.Farhan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
22. 22.Dev’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹180 (transport)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
23. 23.Riya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
24. 24.Rohan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
25. 25.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying lemons (d) paying the stall fee
26. 26.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
27. 27.Diya’s stall took in ₹370 on Friday, ₹120 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) bus fare to the market (d) printing posters
29. 29.📒 Income or expense: payment for a cake order? (a) income (b) expense
30. 30.Kabir’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹60 (posters)
    Expense: ₹190 (card paper)
    How much is the loss (in ₹)?
31. 31.Ananya’s income was ₹210 and the profit was ₹90. One expense was ₹110 (transport). How much was the other expense, for card paper (in ₹)?
32. 32.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
33. 33.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) money from sales (d) payment for a cake order
34. 34.Saanvi’s income was ₹480 and the profit was ₹450. One expense was ₹20 (stall fee). How much was the other expense, for ribbon (in ₹)?
35. 35.Meera’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
36. 36.Ananya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
37. 37.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
38. 38.Aarav’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
39. 39.Kabir’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
40. 40.True or false: “buying paper cups” is an expense (money out). (a) False (b) True

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