Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 534 · 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: “cash from selling plants” is an expense (money out). (a) False (b) True
2. 2.True or false: “money from sales” is income (money in). (a) False (b) True
3. 3.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
4. 4.Kabir’s income was ₹110 and the profit was ₹70. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
5. 5.True or false: “payment for a cake order” is income (money in). (a) False (b) True
6. 6.Gurpreet’s income was ₹170 and the profit was ₹100. One expense was ₹20 (lemons). How much was the other expense, for posters (in ₹)?
7. 7.Gurpreet’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹190 (sugar)
   Expense: ₹50 (paper cups)
   What is the profit (in ₹)?
8. 8.Joseph’s income was ₹100 and the profit was ₹10. One expense was ₹70 (card paper). How much was the other expense, for paper cups (in ₹)?
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.Lakshmi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹230 (lemons)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
11. 11.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) cash from selling plants
12. 12.Meera’s income was ₹250 and the profit was ₹120. One expense was ₹40 (transport). How much was the other expense, for lemons (in ₹)?
13. 13.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) tutoring fees received (d) a card order paid
14. 14.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
15. 15.Nisha’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
16. 16.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.Saanvi’s stall took in ₹230 on Friday, ₹340 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
19. 19.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
20. 20.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
21. 21.Arjun’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
23. 23.True or false: “a card order paid” is income (money in). (a) True (b) False
24. 24.Vihaan’s stall took in ₹160 on Friday, ₹360 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
25. 25.Meera’s income was ₹190 and the profit was ₹30. One expense was ₹40 (transport). How much was the other expense, for card paper (in ₹)?
26. 26.📒 Income or expense: payment for a cake order? (a) expense (b) income
27. 27.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
28. 28.True or false: “bus fare to the market” is income (money in). (a) True (b) False
29. 29.Aarav’s income was ₹120 and the profit was ₹100. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
30. 30.Vihaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
31. 31.Tara’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
32. 32.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
33. 33.Vihaan’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
34. 34.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying lemons (d) paying the stall fee
35. 35.Rohan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) a card order paid (d) paying the stall fee
37. 37.Kavya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
38. 38.Aarav’s income was ₹240 and the profit was ₹10. One expense was ₹220 (sugar). How much was the other expense, for paper cups (in ₹)?
39. 39.Gurpreet’s stall took in ₹100 on Friday, ₹170 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
40. 40.Kavya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?

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