Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 312 · 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.Gurpreet’s income was ₹420 and the profit was ₹190. One expense was ₹170 (paper cups). How much was the other expense, for transport (in ₹)?
2. 2.📒 Income or expense: cash from selling plants? (a) expense (b) income
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
9. 9.Ananya’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹40 (posters)
   Expense: ₹190 (lemons)
   How much is the loss (in ₹)?
10. 10.Farhan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
11. 11.Zoya’s stall took in ₹350 on Friday, ₹180 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: paying the stall fee? (a) expense (b) income
13. 13.True or false: “a card order paid” is income (money in). (a) False (b) True
14. 14.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
15. 15.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
16. 16.True or false: “tutoring fees received” is income (money in). (a) False (b) True
17. 17.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) money from sales (d) paying the stall fee
18. 18.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
20. 20.Gurpreet’s stall took in ₹80 on Friday, ₹260 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “buying lemons” is an expense (money out). (a) True (b) False
22. 22.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying paper cups (d) cash from selling plants
23. 23.📒 Income or expense: buying paper cups? (a) income (b) expense
24. 24.Aarav’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹180 (transport)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
25. 25.Riya’s income was ₹190 and the profit was ₹70. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
26. 26.Lakshmi’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹230 (lemons)
    How much is the loss (in ₹)?
27. 27.True or false: “bus fare to the market” is income (money in). (a) False (b) True
28. 28.Joseph’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
29. 29.Zoya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
30. 30.Kavya’s income was ₹370 and the profit was ₹140. One expense was ₹110 (paper cups). How much was the other expense, for card paper (in ₹)?
31. 31.Farhan’s stall took in ₹350 on Friday, ₹210 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
32. 32.Lakshmi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
33. 33.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) a card order paid
34. 34.Ananya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹200 (card paper)
    How much is the loss (in ₹)?
35. 35.Kavya’s income was ₹260 and the profit was ₹230. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
36. 36.Rohan’s stall took in ₹240 on Friday, ₹190 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “printing posters” is an expense (money out). (a) True (b) False
38. 38.Gurpreet’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
39. 39.Diya’s income was ₹290 and the profit was ₹220. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
40. 40.Aarav’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?

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