Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 527 · 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.Meera’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹80 (posters)
   Expense: ₹70 (ribbon)
   What is the profit (in ₹)?
2. 2.Ishaan’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹140 (transport)
   Expense: ₹90 (card paper)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
5. 5.Farhan’s income was ₹250 and the profit was ₹200. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
6. 6.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) money from sales (d) printing posters
7. 7.Joseph’s income was ₹390 and the profit was ₹130. One expense was ₹180 (paper cups). How much was the other expense, for ribbon (in ₹)?
8. 8.Dev’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹20 (sugar)
   Expense: ₹40 (transport)
   What is the profit (in ₹)?
9. 9.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
10. 10.Ananya’s income was ₹190 and the profit was ₹110. One expense was ₹60 (lemons). How much was the other expense, for card paper (in ₹)?
11. 11.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
12. 12.📒 Income or expense: a card order paid? (a) income (b) expense
13. 13.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
14. 14.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying paper cups (d) payment for a cake order
15. 15.True or false: “a card order paid” is an expense (money out). (a) False (b) True
16. 16.📒 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
17. 17.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
18. 18.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) buying lemons (d) buying paper cups
19. 19.📒 Income or expense: bus fare to the market? (a) expense (b) income
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
21. 21.Gurpreet’s income was ₹490 and the profit was ₹50. One expense was ₹320 (card paper). How much was the other expense, for sugar (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) income (b) expense
23. 23.Lakshmi’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
24. 24.Aarav’s stall took in ₹100 on Friday, ₹300 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: paying the stall fee? (a) income (b) expense
26. 26.True or false: “cash from selling plants” is income (money in). (a) False (b) True
27. 27.Diya’s stall took in ₹70 on Friday, ₹280 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
28. 28.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
29. 29.Farhan’s income was ₹460 and the profit was ₹340. One expense was ₹80 (posters). How much was the other expense, for stall fee (in ₹)?
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) cash from selling plants
31. 31.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) a card order paid (d) buying lemons
32. 32.Meera’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
33. 33.Vihaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹300 (card paper)
    How much is the loss (in ₹)?
34. 34.Gurpreet’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: buying paper cups? (a) income (b) expense
36. 36.Kabir’s income was ₹410 and the profit was ₹300. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
37. 37.Farhan’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
38. 38.Arjun’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
40. 40.Arjun’s stall took in ₹100 on Friday, ₹260 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?

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