Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 419 · 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) money from sales (b) tutoring fees received (c) payment for a cake order (d) buying lemons
2. 2.Joseph’s stall took in ₹90 on Friday, ₹90 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
4. 4.Vihaan’s income was ₹150 and the profit was ₹60. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
6. 6.📒 Income or expense: buying lemons? (a) expense (b) income
7. 7.Kavya’s stall took in ₹340 on Friday, ₹360 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: bus fare to the market? (a) income (b) expense
9. 9.📒 Income or expense: paying the stall fee? (a) expense (b) income
10. 10.📒 Income or expense: printing posters? (a) income (b) expense
11. 11.True or false: “buying lemons” is income (money in). (a) False (b) True
12. 12.Saanvi’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
13. 13.Diya’s income was ₹100 and the profit was ₹10. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
14. 14.True or false: “buying lemons” is an expense (money out). (a) True (b) False
15. 15.Tara’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
16. 16.Gurpreet’s income was ₹200 and the profit was ₹80. One expense was ₹60 (stall fee). How much was the other expense, for ribbon (in ₹)?
17. 17.Farhan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
18. 18.Arjun’s stall took in ₹50 on Friday, ₹70 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) bus fare to the market (d) buying paper cups
20. 20.Saanvi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
21. 21.Ishaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹240 (lemons)
    How much is the loss (in ₹)?
22. 22.Nisha’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
23. 23.Arjun’s income was ₹240 and the profit was ₹30. One expense was ₹140 (ribbon). How much was the other expense, for lemons (in ₹)?
24. 24.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) cash from selling plants (d) buying lemons
25. 25.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
26. 26.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) printing posters (d) money from sales
27. 27.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
28. 28.Gurpreet’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
29. 29.Kabir’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
30. 30.Meera’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
31. 31.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
32. 32.Lakshmi’s income was ₹240 and the profit was ₹220. One expense was ₹10 (ribbon). How much was the other expense, for stall fee (in ₹)?
33. 33.Ananya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
34. 34.Joseph’s income was ₹290 and the profit was ₹90. One expense was ₹120 (paper cups). How much was the other expense, for ribbon (in ₹)?
35. 35.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) money from sales (d) cash from selling plants
36. 36.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
37. 37.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
38. 38.Rohan’s income was ₹210 and the profit was ₹10. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
39. 39.📒 Income or expense: money from sales? (a) expense (b) income
40. 40.Vihaan’s income was ₹450 and the profit was ₹190. One expense was ₹210 (paper cups). How much was the other expense, for transport (in ₹)?

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