Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 39 · 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 stall took in ₹70 on Friday, ₹330 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
2. 2.Diya’s income was ₹250 and the profit was ₹80. One expense was ₹40 (card paper). How much was the other expense, for lemons (in ₹)?
3. 3.📒 Income or expense: cash from selling plants? (a) expense (b) income
4. 4.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
5. 5.Aarav’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹140 (sugar)
   Expense: ₹100 (stall fee)
   What is the profit (in ₹)?
6. 6.Saanvi’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹30 (posters)
   Expense: ₹160 (sugar)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: payment for a cake order? (a) income (b) expense
8. 8.📒 Income or expense: paying the stall fee? (a) expense (b) income
9. 9.True or false: “a card order paid” is income (money in). (a) True (b) False
10. 10.True or false: “money from sales” is an expense (money out). (a) False (b) True
11. 11.📒 Income or expense: tutoring fees received? (a) income (b) expense
12. 12.📒 Income or expense: buying lemons? (a) expense (b) income
13. 13.📒 Income or expense: money from sales? (a) expense (b) income
14. 14.Kabir’s stall took in ₹340 on Friday, ₹130 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) a card order paid
16. 16.Nisha’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
17. 17.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
18. 18.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
19. 19.True or false: “printing posters” is income (money in). (a) True (b) False
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) buying paper cups
21. 21.Kavya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
22. 22.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
23. 23.Rohan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
24. 24.Vihaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
25. 25.True or false: “cash from selling plants” is income (money in). (a) False (b) True
26. 26.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (posters)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
27. 27.Gurpreet’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (transport)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
28. 28.Tara’s income was ₹120 and the profit was ₹40. One expense was ₹70 (paper cups). How much was the other expense, for lemons (in ₹)?
29. 29.Farhan’s income was ₹270 and the profit was ₹80. One expense was ₹180 (card paper). How much was the other expense, for posters (in ₹)?
30. 30.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
31. 31.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) bus fare to the market
32. 32.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) paying the stall fee (d) buying paper cups
33. 33.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
34. 34.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) tutoring fees received (d) buying paper cups
35. 35.Lakshmi’s income was ₹110 and the profit was ₹50. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
36. 36.True or false: “a card order paid” is an expense (money out). (a) True (b) False
37. 37.True or false: “tutoring fees received” is income (money in). (a) False (b) True
38. 38.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) cash from selling plants
39. 39.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
40. 40.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False

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