Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 507 · 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.Aarav’s income was ₹460 and the profit was ₹380. One expense was ₹20 (stall fee). How much was the other expense, for ribbon (in ₹)?
2. 2.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) a card order paid (d) payment for a cake order
3. 3.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
4. 4.Aarav’s record for the day:
   Income: ₹390 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹120 (sugar)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: buying lemons? (a) income (b) expense
6. 6.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
7. 7.True or false: “tutoring fees received” is income (money in). (a) True (b) False
8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
9. 9.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
10. 10.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) cash from selling plants (d) buying lemons
11. 11.Lakshmi’s income was ₹120 and the profit was ₹100. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
12. 12.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
13. 13.Joseph’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
14. 14.Meera’s income was ₹170 and the profit was ₹110. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
15. 15.Nisha’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹200 (transport)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
16. 16.Lakshmi’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
17. 17.Rohan’s stall took in ₹90 on Friday, ₹180 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.Vihaan’s income was ₹410 and the profit was ₹380. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
20. 20.📒 Income or expense: printing posters? (a) expense (b) income
21. 21.Rohan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
22. 22.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
23. 23.Lakshmi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
24. 24.Nisha’s stall took in ₹100 on Friday, ₹200 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “printing posters” is income (money in). (a) True (b) False
26. 26.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
27. 27.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) cash from selling plants (d) bus fare to the market
28. 28.📒 Income or expense: payment for a cake order? (a) income (b) expense
29. 29.📒 Income or expense: money from sales? (a) income (b) expense
30. 30.Meera’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
31. 31.Gurpreet’s income was ₹360 and the profit was ₹30. One expense was ₹150 (lemons). How much was the other expense, for ribbon (in ₹)?
32. 32.Aarav’s stall took in ₹110 on Friday, ₹190 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
33. 33.Rohan’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
34. 34.Tara’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
35. 35.Ishaan’s stall took in ₹150 on Friday, ₹110 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
36. 36.Dev’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹240 (transport)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
37. 37.True or false: “money from sales” is an expense (money out). (a) False (b) True
38. 38.Meera’s income was ₹320 and the profit was ₹300. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
39. 39.Meera’s stall took in ₹90 on Friday, ₹160 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “cash from selling plants” is income (money in). (a) True (b) False

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