Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 356 · 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.Lakshmi’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹90 (posters)
   What is the profit (in ₹)?
2. 2.Dev’s income was ₹330 and the profit was ₹120. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
3. 3.📒 Income or expense: printing posters? (a) expense (b) income
4. 4.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
5. 5.Kabir’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹130 (card paper)
   Expense: ₹20 (posters)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: buying lemons? (a) income (b) expense
7. 7.Saanvi’s stall took in ₹340 on Friday, ₹140 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
8. 8.Kabir’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹380 (evening sales)
   Expense: ₹70 (stall fee)
   Expense: ₹60 (card paper)
   What is the profit (in ₹)?
9. 9.True or false: “money from sales” is an expense (money out). (a) False (b) True
10. 10.Farhan’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
11. 11.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
12. 12.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
14. 14.True or false: “printing posters” is an expense (money out). (a) False (b) True
15. 15.Rohan’s income was ₹150 and the profit was ₹130. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
16. 16.Ananya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
17. 17.True or false: “money from sales” is income (money in). (a) True (b) False
18. 18.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
19. 19.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying lemons (d) printing posters
20. 20.Ananya’s income was ₹450 and the profit was ₹90. One expense was ₹350 (card paper). How much was the other expense, for ribbon (in ₹)?
21. 21.Diya’s income was ₹460 and the profit was ₹190. One expense was ₹230 (transport). How much was the other expense, for lemons (in ₹)?
22. 22.Vihaan’s stall took in ₹280 on Friday, ₹160 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
23. 23.Joseph’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (transport)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
24. 24.Joseph’s stall took in ₹310 on Friday, ₹170 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
25. 25.Zoya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
26. 26.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
27. 27.True or false: “cash from selling plants” is income (money in). (a) True (b) False
28. 28.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) buying lemons
29. 29.📒 Income or expense: money from sales? (a) income (b) expense
30. 30.Aarav’s stall took in ₹380 on Friday, ₹150 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
31. 31.Kabir’s stall took in ₹100 on Friday, ₹110 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “a card order paid” is an expense (money out). (a) True (b) False
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) printing posters (d) a card order paid
34. 34.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
35. 35.📒 Income or expense: payment for a cake order? (a) income (b) expense
36. 36.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) money from sales (d) bus fare to the market
37. 37.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
38. 38.Farhan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.📒 Income or expense: tutoring fees received? (a) expense (b) income

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