Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 315 · 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.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
2. 2.Rohan’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹10 (sugar)
   Expense: ₹130 (paper cups)
   How much is the loss (in ₹)?
3. 3.Lakshmi’s stall took in ₹190 on Friday, ₹110 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) bus fare to the market
5. 5.Zoya’s income was ₹350 and the profit was ₹320. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
6. 6.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) a card order paid
7. 7.Ishaan’s stall took in ₹70 on Friday, ₹210 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
8. 8.Tara’s income was ₹250 and the profit was ₹80. One expense was ₹150 (stall fee). How much was the other expense, for lemons (in ₹)?
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) money from sales (d) cash from selling plants
10. 10.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
11. 11.📒 Income or expense: paying the stall fee? (a) income (b) expense
12. 12.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
13. 13.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.📒 Income or expense: cash from selling plants? (a) expense (b) income
16. 16.Zoya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
17. 17.Arjun’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
18. 18.Joseph’s income was ₹230 and the profit was ₹40. One expense was ₹70 (sugar). How much was the other expense, for lemons (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
20. 20.Arjun’s income was ₹470 and the profit was ₹110. One expense was ₹220 (paper cups). How much was the other expense, for ribbon (in ₹)?
21. 21.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
22. 22.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) bus fare to the market
23. 23.Aarav’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
24. 24.Joseph’s stall took in ₹350 on Friday, ₹260 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
25. 25.Vihaan’s stall took in ₹310 on Friday, ₹200 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
26. 26.Gurpreet’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: a card order paid? (a) income (b) expense
28. 28.Ishaan’s income was ₹280 and the profit was ₹200. One expense was ₹50 (transport). How much was the other expense, for ribbon (in ₹)?
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.Dev’s income was ₹300 and the profit was ₹200. One expense was ₹30 (sugar). How much was the other expense, for ribbon (in ₹)?
31. 31.True or false: “tutoring fees received” is income (money in). (a) True (b) False
32. 32.Riya’s income was ₹350 and the profit was ₹100. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
33. 33.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
34. 34.📒 Income or expense: buying lemons? (a) income (b) expense
35. 35.Rohan’s income was ₹170 and the profit was ₹30. One expense was ₹130 (stall fee). How much was the other expense, for paper cups (in ₹)?
36. 36.Lakshmi’s income was ₹190 and the profit was ₹30. One expense was ₹150 (paper cups). How much was the other expense, for lemons (in ₹)?
37. 37.True or false: “payment for a cake order” is income (money in). (a) False (b) True
38. 38.Gurpreet’s stall took in ₹370 on Friday, ₹280 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) a card order paid (d) payment for a cake order
40. 40.Nisha’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?

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