Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 409 · 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.📒 Income or expense: payment for a cake order? (a) income (b) expense
2. 2.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
3. 3.Dev’s income was ₹330 and the profit was ₹90. One expense was ₹10 (ribbon). How much was the other expense, for stall fee (in ₹)?
4. 4.Joseph’s stall took in ₹220 on Friday, ₹230 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
5. 5.Meera’s income was ₹110 and the profit was ₹80. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
6. 6.Nisha’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹260 (stall fee)
   Expense: ₹70 (ribbon)
   How much is the loss (in ₹)?
7. 7.Ishaan’s stall took in ₹150 on Friday, ₹340 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
8. 8.Ananya’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹200 (transport)
   Expense: ₹60 (lemons)
   What is the profit (in ₹)?
9. 9.Riya’s stall took in ₹50 on Friday, ₹280 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
10. 10.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
11. 11.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) bus fare to the market (d) buying lemons
12. 12.True or false: “buying lemons” is income (money in). (a) False (b) True
13. 13.True or false: “printing posters” is income (money in). (a) True (b) False
14. 14.📒 Income or expense: printing posters? (a) expense (b) income
15. 15.Farhan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
16. 16.Nisha’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) bus fare to the market (d) payment for a cake order
18. 18.Zoya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹160 (sugar)
    How much is the loss (in ₹)?
19. 19.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) bus fare to the market (d) printing posters
20. 20.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
21. 21.Meera’s income was ₹460 and the profit was ₹430. One expense was ₹10 (sugar). How much was the other expense, for transport (in ₹)?
22. 22.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) buying lemons
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) paying the stall fee
24. 24.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
25. 25.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
26. 26.Ishaan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
27. 27.True or false: “money from sales” is income (money in). (a) True (b) False
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
29. 29.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) money from sales (d) printing posters
30. 30.Dev’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
31. 31.Farhan’s stall took in ₹380 on Friday, ₹330 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
32. 32.Riya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
33. 33.True or false: “a card order paid” is an expense (money out). (a) True (b) False
34. 34.Meera’s stall took in ₹320 on Friday, ₹310 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
35. 35.Ananya’s stall took in ₹140 on Friday, ₹270 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
36. 36.Kabir’s stall took in ₹70 on Friday, ₹110 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: a card order paid? (a) income (b) expense
38. 38.Saanvi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹150 (card paper)
    Expense: ₹190 (posters)
    How much is the loss (in ₹)?
39. 39.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) money from sales (d) paying the stall fee
40. 40.Diya’s income was ₹470 and the profit was ₹450. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?

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