Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 529 · 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.Lakshmi’s income was ₹410 and the profit was ₹150. One expense was ₹210 (lemons). How much was the other expense, for transport (in ₹)?
2. 2.Zoya’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹80 (posters)
   What is the profit (in ₹)?
3. 3.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) printing posters
4. 4.📒 Income or expense: buying lemons? (a) expense (b) income
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) bus fare to the market (d) money from sales
6. 6.📒 Income or expense: buying paper cups? (a) income (b) expense
7. 7.Saanvi’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹160 (posters)
   Expense: ₹40 (card paper)
   What is the profit (in ₹)?
8. 8.Kabir’s income was ₹130 and the profit was ₹110. One expense was ₹10 (card paper). How much was the other expense, for lemons (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: bus fare to the market? (a) expense (b) income
11. 11.True or false: “printing posters” is an expense (money out). (a) False (b) True
12. 12.Gurpreet’s stall took in ₹390 on Friday, ₹210 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
14. 14.Kabir’s stall took in ₹300 on Friday, ₹60 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
15. 15.Zoya’s income was ₹190 and the profit was ₹60. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
16. 16.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) paying the stall fee (d) buying lemons
17. 17.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
18. 18.Saanvi’s stall took in ₹190 on Friday, ₹60 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
19. 19.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
20. 20.📒 Income or expense: cash from selling plants? (a) expense (b) income
21. 21.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
22. 22.True or false: “a card order paid” is an expense (money out). (a) False (b) True
23. 23.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying paper cups (d) paying the stall fee
26. 26.📒 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
27. 27.Arjun’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
28. 28.Arjun’s stall took in ₹150 on Friday, ₹340 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: printing posters? (a) income (b) expense
30. 30.True or false: “printing posters” is income (money in). (a) True (b) False
31. 31.Arjun’s stall took in ₹110 on Friday, ₹90 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
32. 32.Farhan’s stall took in ₹380 on Friday, ₹400 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
33. 33.Joseph’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
34. 34.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
35. 35.Meera’s stall took in ₹350 on Friday, ₹150 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
36. 36.Kabir’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
37. 37.Zoya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
38. 38.Diya’s stall took in ₹350 on Friday, ₹150 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) cash from selling plants (d) printing posters
40. 40.True or false: “tutoring fees received” is income (money in). (a) False (b) True

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