Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 379 · 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.Zoya’s income was ₹130 and the profit was ₹100. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.📒 Income or expense: tutoring fees received? (a) expense (b) income
4. 4.Lakshmi’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹60 (lemons)
   Expense: ₹170 (sugar)
   How much is the loss (in ₹)?
5. 5.True or false: “cash from selling plants” is income (money in). (a) True (b) False
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.Kabir’s stall took in ₹330 on Friday, ₹150 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
8. 8.Saanvi’s stall took in ₹330 on Friday, ₹120 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
9. 9.Ananya’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹20 (card paper)
   Expense: ₹130 (stall fee)
   How much is the loss (in ₹)?
10. 10.Diya’s income was ₹300 and the profit was ₹260. One expense was ₹30 (paper cups). How much was the other expense, for lemons (in ₹)?
11. 11.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
12. 12.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) printing posters (d) bus fare to the market
13. 13.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) money from sales (d) payment for a cake order
14. 14.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) payment for a cake order (d) buying paper cups
15. 15.Arjun’s income was ₹140 and the profit was ₹80. One expense was ₹50 (stall fee). How much was the other expense, for paper cups (in ₹)?
16. 16.Ishaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
17. 17.True or false: “buying lemons” is income (money in). (a) False (b) True
18. 18.📒 Income or expense: money from sales? (a) expense (b) income
19. 19.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
20. 20.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) printing posters (d) cash from selling plants
21. 21.Gurpreet’s record for the day:
    Income: ₹600 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
22. 22.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
23. 23.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) buying paper cups (d) paying the stall fee
24. 24.📒 Income or expense: paying the stall fee? (a) expense (b) income
25. 25.Rohan’s stall took in ₹230 on Friday, ₹90 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
26. 26.Gurpreet’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
28. 28.📒 Income or expense: a card order paid? (a) expense (b) income
29. 29.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
30. 30.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) money from sales (d) paying the stall fee
31. 31.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
32. 32.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) buying paper cups (d) paying the stall fee
33. 33.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
34. 34.Riya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
35. 35.Diya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹90 (sugar)
    How much is the loss (in ₹)?
36. 36.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹220 (sugar)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: buying paper cups? (a) expense (b) income
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) money from sales (d) cash from selling plants
39. 39.True or false: “bus fare to the market” is income (money in). (a) False (b) True
40. 40.Kavya’s income was ₹150 and the profit was ₹80. One expense was ₹20 (lemons). How much was the other expense, for stall fee (in ₹)?

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