Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 52 · 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.True or false: “a card order paid” is an expense (money out). (a) False (b) True
2. 2.📒 Income or expense: printing posters? (a) income (b) expense
3. 3.📒 Income or expense: buying paper cups? (a) income (b) expense
4. 4.Diya’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹20 (ribbon)
   Expense: ₹30 (sugar)
   What is the profit (in ₹)?
5. 5.Rohan’s income was ₹380 and the profit was ₹350. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
6. 6.Ishaan’s income was ₹420 and the profit was ₹70. One expense was ₹100 (lemons). How much was the other expense, for sugar (in ₹)?
7. 7.Farhan’s income was ₹200 and the profit was ₹110. One expense was ₹60 (paper cups). How much was the other expense, for sugar (in ₹)?
8. 8.Lakshmi’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹60 (paper cups)
   Expense: ₹140 (lemons)
   What is the profit (in ₹)?
9. 9.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
10. 10.📒 Income or expense: buying lemons? (a) expense (b) income
11. 11.Vihaan’s stall took in ₹110 on Friday, ₹350 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
12. 12.Rohan’s stall took in ₹140 on Friday, ₹220 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “money from sales” is income (money in). (a) True (b) False
14. 14.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) a card order paid (d) payment for a cake order
15. 15.Ishaan’s income was ₹410 and the profit was ₹140. One expense was ₹40 (paper cups). How much was the other expense, for card paper (in ₹)?
16. 16.Aarav’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.Aarav’s income was ₹410 and the profit was ₹190. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
19. 19.Rohan’s record for the day:
    Income: ₹520 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
20. 20.Dev’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
21. 21.Dev’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
22. 22.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) money from sales
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
24. 24.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) tutoring fees received
25. 25.Farhan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
26. 26.Joseph’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹240 (transport)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
27. 27.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) tutoring fees received (d) a card order paid
28. 28.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
29. 29.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) paying the stall fee (d) money from sales
30. 30.Kabir’s income was ₹350 and the profit was ₹180. One expense was ₹140 (transport). How much was the other expense, for card paper (in ₹)?
31. 31.Arjun’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
32. 32.Gurpreet’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
33. 33.Diya’s stall took in ₹210 on Friday, ₹380 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
34. 34.Dev’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
35. 35.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
36. 36.📒 Income or expense: payment for a cake order? (a) income (b) expense
37. 37.📒 Income or expense: bus fare to the market? (a) expense (b) income
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) printing posters (d) buying lemons
39. 39.Riya’s stall took in ₹110 on Friday, ₹260 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
40. 40.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year

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