Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 362 · 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.Vihaan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹40 (ribbon)
   What is the profit (in ₹)?
2. 2.Riya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹70 (transport)
   Expense: ₹40 (card paper)
   What is the profit (in ₹)?
3. 3.True or false: “tutoring fees received” is income (money in). (a) False (b) True
4. 4.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
5. 5.True or false: “cash from selling plants” is income (money in). (a) True (b) False
6. 6.📒 Income or expense: tutoring fees received? (a) income (b) expense
7. 7.Dev’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹90 (stall fee)
   Expense: ₹160 (card paper)
   What is the profit (in ₹)?
8. 8.True or false: “a card order paid” is income (money in). (a) True (b) False
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.True or false: “a card order paid” is an expense (money out). (a) False (b) True
11. 11.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
12. 12.Ishaan’s income was ₹460 and the profit was ₹110. One expense was ₹70 (posters). How much was the other expense, for card paper (in ₹)?
13. 13.Gurpreet’s stall took in ₹160 on Friday, ₹60 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
15. 15.Rohan’s income was ₹140 and the profit was ₹90. One expense was ₹30 (card paper). How much was the other expense, for sugar (in ₹)?
16. 16.Joseph’s income was ₹150 and the profit was ₹20. One expense was ₹70 (transport). How much was the other expense, for card paper (in ₹)?
17. 17.True or false: “printing posters” is income (money in). (a) False (b) True
18. 18.True or false: “buying lemons” is income (money in). (a) False (b) True
19. 19.📒 Income or expense: buying lemons? (a) income (b) expense
20. 20.Diya’s income was ₹100 and the profit was ₹40. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) bus fare to the market (d) buying lemons
22. 22.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
23. 23.📒 Income or expense: printing posters? (a) income (b) expense
24. 24.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) printing posters (d) paying the stall fee
25. 25.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
26. 26.Aarav’s income was ₹290 and the profit was ₹10. One expense was ₹250 (transport). How much was the other expense, for ribbon (in ₹)?
27. 27.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
28. 28.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) buying lemons
29. 29.Zoya’s income was ₹250 and the profit was ₹140. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?
30. 30.Aarav’s stall took in ₹90 on Friday, ₹360 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: bus fare to the market? (a) expense (b) income
32. 32.Rohan’s stall took in ₹380 on Friday, ₹80 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) cash from selling plants (d) paying the stall fee
34. 34.Kabir’s stall took in ₹190 on Friday, ₹220 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
35. 35.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
36. 36.Arjun’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹250 (lemons)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
37. 37.Saanvi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹560 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
38. 38.True or false: “buying lemons” is an expense (money out). (a) False (b) True
39. 39.📒 Income or expense: payment for a cake order? (a) expense (b) income
40. 40.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) cash from selling plants (d) a card order paid

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