Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 343 · 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.Kavya’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹40 (stall fee)
   Expense: ₹160 (paper cups)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) money from sales (d) buying paper cups
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying paper cups (d) printing posters
4. 4.Tara’s stall took in ₹160 on Friday, ₹350 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
5. 5.Riya’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹20 (card paper)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: money from sales? (a) income (b) expense
7. 7.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
8. 8.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
9. 9.Ishaan’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹130 (transport)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: payment for a cake order? (a) income (b) expense
11. 11.Kavya’s income was ₹190 and the profit was ₹10. One expense was ₹150 (transport). How much was the other expense, for ribbon (in ₹)?
12. 12.True or false: “bus fare to the market” is income (money in). (a) True (b) False
13. 13.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
14. 14.Lakshmi’s income was ₹190 and the profit was ₹150. One expense was ₹20 (posters). How much was the other expense, for paper cups (in ₹)?
15. 15.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) buying lemons (d) a card order paid
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.True or false: “cash from selling plants” is income (money in). (a) True (b) False
18. 18.Aarav’s income was ₹120 and the profit was ₹30. One expense was ₹60 (card paper). How much was the other expense, for transport (in ₹)?
19. 19.📒 Income or expense: printing posters? (a) income (b) expense
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
21. 21.Joseph’s stall took in ₹110 on Friday, ₹180 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
23. 23.Meera’s income was ₹110 and the profit was ₹30. One expense was ₹40 (stall fee). How much was the other expense, for lemons (in ₹)?
24. 24.Ananya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
25. 25.Kavya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹150 (transport)
    How much is the loss (in ₹)?
26. 26.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying paper cups (d) money from sales
27. 27.Rohan’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
28. 28.Nisha’s stall took in ₹140 on Friday, ₹70 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
29. 29.Gurpreet’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
30. 30.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
31. 31.Tara’s income was ₹310 and the profit was ₹130. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
32. 32.Lakshmi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
33. 33.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
34. 34.True or false: “paying the stall fee” is income (money in). (a) True (b) False
35. 35.Vihaan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
36. 36.Lakshmi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
37. 37.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
38. 38.True or false: “a card order paid” is income (money in). (a) False (b) True
39. 39.📒 Income or expense: tutoring fees received? (a) expense (b) income
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) cash from selling plants (d) money from sales

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