Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 481 · 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) expenses − income (b) income + expenses (c) just the income (d) income − expenses
2. 2.Vihaan’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹60 (sugar)
   Expense: ₹80 (paper cups)
   How much is the loss (in ₹)?
3. 3.Meera’s income was ₹130 and the profit was ₹10. One expense was ₹80 (paper cups). How much was the other expense, for sugar (in ₹)?
4. 4.📒 Income or expense: buying paper cups? (a) expense (b) income
5. 5.Meera’s stall took in ₹110 on Friday, ₹210 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
6. 6.📒 Income or expense: buying lemons? (a) income (b) expense
7. 7.📒 Income or expense: bus fare to the market? (a) expense (b) income
8. 8.Riya’s income was ₹250 and the profit was ₹180. One expense was ₹40 (sugar). How much was the other expense, for card paper (in ₹)?
9. 9.📒 Income or expense: printing posters? (a) income (b) expense
10. 10.True or false: “money from sales” is income (money in). (a) True (b) False
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) cash from selling plants (d) payment for a cake order
12. 12.📒 Income or expense: payment for a cake order? (a) expense (b) income
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.📒 Income or expense: money from sales? (a) expense (b) income
15. 15.True or false: “a card order paid” is income (money in). (a) False (b) True
16. 16.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
17. 17.True or false: “tutoring fees received” is income (money in). (a) False (b) True
18. 18.Nisha’s income was ₹330 and the profit was ₹150. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
19. 19.Gurpreet’s stall took in ₹240 on Friday, ₹330 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
21. 21.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) bus fare to the market (d) cash from selling plants
22. 22.Gurpreet’s income was ₹400 and the profit was ₹240. One expense was ₹90 (stall fee). How much was the other expense, for sugar (in ₹)?
23. 23.Dev’s income was ₹130 and the profit was ₹30. One expense was ₹70 (paper cups). How much was the other expense, for lemons (in ₹)?
24. 24.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
25. 25.True or false: “printing posters” is an expense (money out). (a) False (b) True
26. 26.Kabir’s stall took in ₹150 on Friday, ₹270 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
27. 27.Saanvi’s stall took in ₹160 on Friday, ₹370 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
29. 29.True or false: “bus fare to the market” is income (money in). (a) True (b) False
30. 30.Kabir’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
31. 31.Saanvi’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
32. 32.Kavya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
33. 33.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying paper cups (d) a card order paid
34. 34.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
35. 35.Nisha’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹90 (sugar)
    How much is the loss (in ₹)?
36. 36.Kabir’s income was ₹220 and the profit was ₹40. One expense was ₹160 (lemons). How much was the other expense, for posters (in ₹)?
37. 37.Tara’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) buying lemons
39. 39.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
40. 40.Nisha’s income was ₹190 and the profit was ₹160. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?

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