Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 528 · 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.Kabir’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹80 (sugar)
   Expense: ₹140 (card paper)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) cash from selling plants
3. 3.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying lemons (d) paying the stall fee
4. 4.📒 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
5. 5.Lakshmi’s income was ₹220 and the profit was ₹190. One expense was ₹20 (ribbon). How much was the other expense, for card paper (in ₹)?
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
7. 7.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
8. 8.📒 Income or expense: tutoring fees received? (a) expense (b) income
9. 9.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) buying paper cups (d) paying the stall fee
10. 10.Nisha’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹280 (sugar)
    How much is the loss (in ₹)?
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
12. 12.Kabir’s income was ₹480 and the profit was ₹80. One expense was ₹220 (stall fee). How much was the other expense, for lemons (in ₹)?
13. 13.Ananya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
14. 14.Farhan’s income was ₹120 and the profit was ₹90. One expense was ₹20 (card paper). How much was the other expense, for ribbon (in ₹)?
15. 15.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) bus fare to the market (d) cash from selling plants
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) paying the stall fee
17. 17.📒 Income or expense: a card order paid? (a) income (b) expense
18. 18.True or false: “payment for a cake order” is income (money in). (a) False (b) True
19. 19.Dev’s income was ₹330 and the profit was ₹20. One expense was ₹60 (posters). How much was the other expense, for lemons (in ₹)?
20. 20.Dev’s stall took in ₹310 on Friday, ₹120 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
21. 21.Rohan’s stall took in ₹260 on Friday, ₹270 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
22. 22.Gurpreet’s stall took in ₹400 on Friday, ₹130 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
23. 23.Vihaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
24. 24.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
25. 25.Meera’s stall took in ₹370 on Friday, ₹340 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
26. 26.Zoya’s income was ₹220 and the profit was ₹120. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
27. 27.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying paper cups (d) tutoring fees received
28. 28.📒 Income or expense: cash from selling plants? (a) income (b) expense
29. 29.Vihaan’s stall took in ₹280 on Friday, ₹70 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) payment for a cake order (d) a card order paid
31. 31.Lakshmi’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) bus fare to the market (d) printing posters
33. 33.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) payment for a cake order (d) a card order paid
34. 34.Gurpreet’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹340 (stall fee)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
35. 35.Saanvi’s stall took in ₹270 on Friday, ₹80 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
36. 36.Gurpreet’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
37. 37.Joseph’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
38. 38.Farhan’s income was ₹110 and the profit was ₹20. One expense was ₹20 (card paper). How much was the other expense, for posters (in ₹)?
39. 39.True or false: “printing posters” is an expense (money out). (a) True (b) False
40. 40.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False

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