Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 399 · 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.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) cash from selling plants (d) tutoring fees received
2. 2.📒 Income or expense: printing posters? (a) expense (b) income
3. 3.Nisha’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹120 (ribbon)
   Expense: ₹190 (sugar)
   What is the profit (in ₹)?
4. 4.Tara’s income was ₹110 and the profit was ₹80. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?
5. 5.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
6. 6.Kabir’s stall took in ₹60 on Friday, ₹210 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
7. 7.Arjun’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹90 (transport)
   Expense: ₹30 (posters)
   What is the profit (in ₹)?
8. 8.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
9. 9.True or false: “printing posters” is an expense (money out). (a) False (b) True
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) cash from selling plants (d) money from sales
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) cash from selling plants (d) paying the stall fee
12. 12.Riya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
13. 13.Riya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
14. 14.Farhan’s stall took in ₹190 on Friday, ₹70 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
16. 16.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
17. 17.Gurpreet’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
19. 19.📒 Income or expense: buying paper cups? (a) expense (b) income
20. 20.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) a card order paid (d) bus fare to the market
21. 21.Arjun’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: bus fare to the market? (a) income (b) expense
23. 23.Arjun’s stall took in ₹70 on Friday, ₹80 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
24. 24.Dev’s income was ₹210 and the profit was ₹160. One expense was ₹40 (lemons). How much was the other expense, for card paper (in ₹)?
25. 25.Farhan’s income was ₹140 and the profit was ₹90. One expense was ₹30 (card paper). How much was the other expense, for paper cups (in ₹)?
26. 26.True or false: “printing posters” is income (money in). (a) True (b) False
27. 27.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) payment for a cake order (d) paying the stall fee
28. 28.Zoya’s income was ₹330 and the profit was ₹160. One expense was ₹40 (paper cups). How much was the other expense, for card paper (in ₹)?
29. 29.📒 Income or expense: payment for a cake order? (a) expense (b) income
30. 30.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) tutoring fees received
31. 31.Diya’s stall took in ₹180 on Friday, ₹310 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “bus fare to the market” is income (money in). (a) False (b) True
33. 33.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
34. 34.Nisha’s income was ₹460 and the profit was ₹80. One expense was ₹90 (posters). How much was the other expense, for card paper (in ₹)?
35. 35.Ishaan’s income was ₹260 and the profit was ₹80. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
36. 36.📒 Income or expense: tutoring fees received? (a) expense (b) income
37. 37.Kabir’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
38. 38.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
39. 39.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
40. 40.Riya’s income was ₹480 and the profit was ₹380. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?

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