Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 464 · 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.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
2. 2.📒 Income or expense: buying lemons? (a) expense (b) income
3. 3.Zoya’s stall took in ₹230 on Friday, ₹100 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
4. 4.Nisha’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹150 (ribbon)
   Expense: ₹130 (posters)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) bus fare to the market (d) buying paper cups
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.Diya’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹20 (lemons)
   Expense: ₹70 (ribbon)
   What is the profit (in ₹)?
8. 8.Lakshmi’s stall took in ₹270 on Friday, ₹260 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “money from sales” is income (money in). (a) True (b) False
10. 10.Aarav’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
11. 11.Kabir’s income was ₹340 and the profit was ₹80. One expense was ₹70 (lemons). How much was the other expense, for posters (in ₹)?
12. 12.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) bus fare to the market (d) buying lemons
13. 13.Arjun’s income was ₹360 and the profit was ₹180. One expense was ₹130 (posters). How much was the other expense, for sugar (in ₹)?
14. 14.Nisha’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
15. 15.Lakshmi’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: printing posters? (a) expense (b) income
17. 17.Ishaan’s stall took in ₹80 on Friday, ₹370 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
19. 19.📒 Income or expense: cash from selling plants? (a) income (b) expense
20. 20.Kabir’s stall took in ₹170 on Friday, ₹390 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
21. 21.Kabir’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
22. 22.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
23. 23.True or false: “printing posters” is an expense (money out). (a) False (b) True
24. 24.True or false: “a card order paid” is an expense (money out). (a) True (b) False
25. 25.Aarav’s income was ₹350 and the profit was ₹250. One expense was ₹90 (lemons). How much was the other expense, for stall fee (in ₹)?
26. 26.Kabir’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) buying paper cups (d) money from sales
28. 28.Joseph’s income was ₹100 and the profit was ₹60. One expense was ₹20 (transport). How much was the other expense, for paper cups (in ₹)?
29. 29.📒 Income or expense: a card order paid? (a) expense (b) income
30. 30.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) a card order paid (d) tutoring fees received
31. 31.Joseph’s income was ₹240 and the profit was ₹80. One expense was ₹120 (stall fee). How much was the other expense, for lemons (in ₹)?
32. 32.Lakshmi’s stall took in ₹370 on Friday, ₹190 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
33. 33.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
34. 34.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
35. 35.Ananya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
36. 36.Meera’s income was ₹300 and the profit was ₹70. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
37. 37.True or false: “cash from selling plants” is income (money in). (a) False (b) True
38. 38.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) cash from selling plants (d) a card order paid
39. 39.Nisha’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
40. 40.True or false: “money from sales” is an expense (money out). (a) True (b) False

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