Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 51 · 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.Kavya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹220 (lemons)
   Expense: ₹70 (ribbon)
   How much is the loss (in ₹)?
2. 2.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) money from sales (d) cash from selling plants
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) cash from selling plants (d) money from sales
4. 4.Farhan’s stall took in ₹100 on Friday, ₹60 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
5. 5.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
6. 6.Riya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹440 (evening sales)
   Expense: ₹200 (lemons)
   Expense: ₹120 (stall fee)
   What is the profit (in ₹)?
7. 7.Nisha’s income was ₹470 and the profit was ₹90. One expense was ₹280 (posters). How much was the other expense, for sugar (in ₹)?
8. 8.True or false: “buying lemons” is an expense (money out). (a) True (b) False
9. 9.Diya’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹160 (sugar)
   Expense: ₹180 (lemons)
   What is the profit (in ₹)?
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) cash from selling plants
11. 11.True or false: “tutoring fees received” is income (money in). (a) True (b) False
12. 12.Arjun’s income was ₹360 and the profit was ₹230. One expense was ₹30 (sugar). How much was the other expense, for paper cups (in ₹)?
13. 13.📒 Income or expense: printing posters? (a) expense (b) income
14. 14.Zoya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
15. 15.True or false: “printing posters” is income (money in). (a) True (b) False
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
18. 18.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
19. 19.Joseph’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
20. 20.Diya’s income was ₹380 and the profit was ₹270. One expense was ₹40 (card paper). How much was the other expense, for sugar (in ₹)?
21. 21.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) cash from selling plants (d) a card order paid
22. 22.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
23. 23.📒 Income or expense: buying lemons? (a) expense (b) income
24. 24.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) bus fare to the market (d) buying lemons
26. 26.Joseph’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
27. 27.Joseph’s income was ₹480 and the profit was ₹310. One expense was ₹50 (posters). How much was the other expense, for stall fee (in ₹)?
28. 28.Zoya’s stall took in ₹90 on Friday, ₹50 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
30. 30.Kabir’s income was ₹380 and the profit was ₹340. One expense was ₹30 (sugar). How much was the other expense, for card paper (in ₹)?
31. 31.True or false: “cash from selling plants” is income (money in). (a) True (b) False
32. 32.📒 Income or expense: cash from selling plants? (a) expense (b) income
33. 33.Saanvi’s stall took in ₹260 on Friday, ₹330 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
34. 34.📒 Income or expense: paying the stall fee? (a) expense (b) income
35. 35.Farhan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹120 (posters)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: money from sales? (a) expense (b) income
37. 37.Diya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
38. 38.Zoya’s income was ₹110 and the profit was ₹60. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
39. 39.Ishaan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
40. 40.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?

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