Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 424 · 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) cash from selling plants (b) money from sales (c) a card order paid (d) paying the stall fee
2. 2.📒 Income or expense: a card order paid? (a) income (b) expense
3. 3.True or false: “money from sales” is income (money in). (a) True (b) False
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.Tara’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹130 (transport)
   Expense: ₹40 (paper cups)
   What is the profit (in ₹)?
6. 6.Lakshmi’s income was ₹350 and the profit was ₹10. One expense was ₹70 (transport). How much was the other expense, for card paper (in ₹)?
7. 7.Aarav’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹120 (card paper)
   Expense: ₹200 (stall fee)
   What is the profit (in ₹)?
8. 8.Farhan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹90 (ribbon)
   What is the profit (in ₹)?
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
10. 10.Dev’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
12. 12.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
13. 13.Aarav’s income was ₹320 and the profit was ₹90. One expense was ₹130 (card paper). How much was the other expense, for transport (in ₹)?
14. 14.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (transport)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
15. 15.Vihaan’s stall took in ₹180 on Friday, ₹230 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
16. 16.📒 Income or expense: buying paper cups? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) tutoring fees received
18. 18.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹110 (posters)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
19. 19.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) a card order paid (d) printing posters
20. 20.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
21. 21.Meera’s income was ₹440 and the profit was ₹410. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
22. 22.📒 Income or expense: buying lemons? (a) expense (b) income
23. 23.📒 Income or expense: paying the stall fee? (a) expense (b) income
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) payment for a cake order (d) buying lemons
25. 25.True or false: “money from sales” is an expense (money out). (a) True (b) False
26. 26.Ananya’s stall took in ₹80 on Friday, ₹400 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
27. 27.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
28. 28.Rohan’s income was ₹210 and the profit was ₹190. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
29. 29.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
30. 30.Kabir’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
31. 31.Dev’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹60 (posters)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
32. 32.Vihaan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
33. 33.Rohan’s stall took in ₹390 on Friday, ₹130 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s stall took in ₹300 on Friday, ₹120 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) paying the stall fee
36. 36.Lakshmi’s income was ₹400 and the profit was ₹290. One expense was ₹30 (sugar). How much was the other expense, for card paper (in ₹)?
37. 37.Diya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹40 (posters)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
38. 38.Meera’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
39. 39.Rohan’s income was ₹410 and the profit was ₹100. One expense was ₹280 (lemons). How much was the other expense, for sugar (in ₹)?
40. 40.Diya’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?

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