Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 339 · 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.Rohan’s record for the day:
   Income: ₹310 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹130 (ribbon)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
2. 2.Meera’s stall took in ₹250 on Friday, ₹90 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
3. 3.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
4. 4.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) money from sales (d) cash from selling plants
5. 5.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
6. 6.True or false: “a card order paid” is an expense (money out). (a) True (b) False
7. 7.True or false: “cash from selling plants” is income (money in). (a) True (b) False
8. 8.Saanvi’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹190 (sugar)
   Expense: ₹190 (ribbon)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.📒 Income or expense: money from sales? (a) income (b) expense
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
12. 12.Diya’s stall took in ₹160 on Friday, ₹300 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
13. 13.Aarav’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
15. 15.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
16. 16.True or false: “money from sales” is income (money in). (a) False (b) True
17. 17.Diya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying lemons (d) money from sales
19. 19.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) payment for a cake order (d) a card order paid
20. 20.Riya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹100 (posters)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
21. 21.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
22. 22.Ishaan’s income was ₹260 and the profit was ₹10. One expense was ₹90 (ribbon). How much was the other expense, for card paper (in ₹)?
23. 23.Diya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
24. 24.Kabir’s stall took in ₹170 on Friday, ₹320 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
25. 25.Aarav’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
26. 26.Meera’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying lemons (d) buying paper cups
28. 28.📒 Income or expense: payment for a cake order? (a) expense (b) income
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) payment for a cake order
30. 30.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) bus fare to the market (d) buying lemons
31. 31.Meera’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
32. 32.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
33. 33.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) paying the stall fee
34. 34.Zoya’s income was ₹460 and the profit was ₹430. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
35. 35.Gurpreet’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
36. 36.Arjun’s stall took in ₹180 on Friday, ₹160 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) a card order paid (d) printing posters
39. 39.Joseph’s income was ₹120 and the profit was ₹80. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
40. 40.Ishaan’s stall took in ₹180 on Friday, ₹50 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?

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