Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 510 · 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 income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) money from sales
2. 2.📒 Income or expense: money from sales? (a) income (b) expense
3. 3.Arjun’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹30 (transport)
   Expense: ₹160 (sugar)
   How much is the loss (in ₹)?
4. 4.True or false: “buying lemons” is income (money in). (a) False (b) True
5. 5.Kavya’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹140 (transport)
   Expense: ₹10 (posters)
   How much is the loss (in ₹)?
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
7. 7.Aarav’s record for the day:
   Income: ₹350 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹120 (sugar)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
8. 8.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
9. 9.Ananya’s stall took in ₹70 on Friday, ₹160 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
10. 10.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
11. 11.📒 Income or expense: payment for a cake order? (a) expense (b) income
12. 12.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
13. 13.Gurpreet’s income was ₹130 and the profit was ₹90. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) paying the stall fee
15. 15.Nisha’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
16. 16.True or false: “bus fare to the market” is income (money in). (a) True (b) False
17. 17.Dev’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
18. 18.Arjun’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
19. 19.Farhan’s stall took in ₹260 on Friday, ₹300 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) buying paper cups (d) paying the stall fee
21. 21.Aarav’s income was ₹130 and the profit was ₹50. One expense was ₹60 (lemons). How much was the other expense, for ribbon (in ₹)?
22. 22.📒 Income or expense: a card order paid? (a) expense (b) income
23. 23.True or false: “cash from selling plants” is income (money in). (a) False (b) True
24. 24.📒 Income or expense: bus fare to the market? (a) expense (b) income
25. 25.Riya’s income was ₹290 and the profit was ₹90. One expense was ₹70 (stall fee). How much was the other expense, for lemons (in ₹)?
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) tutoring fees received (d) printing posters
27. 27.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) bus fare to the market
28. 28.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) tutoring fees received (d) money from sales
29. 29.📒 Income or expense: printing posters? (a) expense (b) income
30. 30.Zoya’s income was ₹430 and the profit was ₹160. One expense was ₹230 (paper cups). How much was the other expense, for posters (in ₹)?
31. 31.📒 Income or expense: cash from selling plants? (a) income (b) expense
32. 32.Gurpreet’s stall took in ₹330 on Friday, ₹210 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
33. 33.Riya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
34. 34.Ishaan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
35. 35.True or false: “printing posters” is income (money in). (a) True (b) False
36. 36.Arjun’s stall took in ₹220 on Friday, ₹340 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
37. 37.Tara’s income was ₹410 and the profit was ₹290. One expense was ₹80 (posters). How much was the other expense, for stall fee (in ₹)?
38. 38.Dev’s income was ₹490 and the profit was ₹320. One expense was ₹140 (stall fee). How much was the other expense, for sugar (in ₹)?
39. 39.Lakshmi’s income was ₹160 and the profit was ₹80. One expense was ₹40 (transport). How much was the other expense, for card paper (in ₹)?
40. 40.Saanvi’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?

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