Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 353 · 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.Ishaan’s income was ₹450 and the profit was ₹190. One expense was ₹60 (paper cups). How much was the other expense, for stall fee (in ₹)?
2. 2.📒 Income or expense: money from sales? (a) income (b) expense
3. 3.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
4. 4.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) bus fare to the market (d) money from sales
5. 5.Ananya’s income was ₹490 and the profit was ₹280. One expense was ₹100 (stall fee). How much was the other expense, for posters (in ₹)?
6. 6.Ananya’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹150 (transport)
   Expense: ₹30 (stall fee)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: printing posters? (a) expense (b) income
8. 8.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
9. 9.Saanvi’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹10 (stall fee)
   Expense: ₹100 (posters)
   How much is the loss (in ₹)?
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
11. 11.True or false: “printing posters” is an expense (money out). (a) False (b) True
12. 12.📒 Income or expense: buying lemons? (a) income (b) expense
13. 13.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) buying lemons (d) bus fare to the market
14. 14.Kabir’s income was ₹430 and the profit was ₹340. One expense was ₹60 (ribbon). How much was the other expense, for sugar (in ₹)?
15. 15.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
16. 16.Aarav’s stall took in ₹80 on Friday, ₹260 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) income (b) expense
18. 18.Diya’s income was ₹200 and the profit was ₹40. One expense was ₹120 (paper cups). How much was the other expense, for stall fee (in ₹)?
19. 19.Zoya’s stall took in ₹180 on Friday, ₹80 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “printing posters” is income (money in). (a) True (b) False
21. 21.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
22. 22.Farhan’s income was ₹100 and the profit was ₹50. One expense was ₹20 (ribbon). How much was the other expense, for sugar (in ₹)?
23. 23.Gurpreet’s income was ₹380 and the profit was ₹100. One expense was ₹70 (posters). How much was the other expense, for transport (in ₹)?
24. 24.📒 Income or expense: buying paper cups? (a) income (b) expense
25. 25.Nisha’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹240 (transport)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: paying the stall fee? (a) expense (b) income
27. 27.True or false: “payment for a cake order” is income (money in). (a) True (b) False
28. 28.True or false: “buying lemons” is an expense (money out). (a) True (b) False
29. 29.📒 Income or expense: cash from selling plants? (a) expense (b) income
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) tutoring fees received
31. 31.Farhan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
32. 32.True or false: “cash from selling plants” is income (money in). (a) True (b) False
33. 33.Aarav’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹270 (paper cups)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
34. 34.Rohan’s income was ₹240 and the profit was ₹210. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
35. 35.Gurpreet’s income was ₹350 and the profit was ₹40. One expense was ₹130 (ribbon). How much was the other expense, for paper cups (in ₹)?
36. 36.Meera’s stall took in ₹70 on Friday, ₹380 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) bus fare to the market (d) a card order paid
38. 38.Arjun’s stall took in ₹260 on Friday, ₹50 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “buying paper cups” is income (money in). (a) False (b) True
40. 40.True or false: “money from sales” is income (money in). (a) True (b) False

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