Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 536 · 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.Rohan’s income was ₹290 and the profit was ₹160. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
2. 2.Joseph’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
3. 3.Kavya’s income was ₹490 and the profit was ₹50. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
4. 4.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) tutoring fees received
5. 5.📒 Income or expense: buying paper cups? (a) income (b) expense
6. 6.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
8. 8.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) money from sales
9. 9.True or false: “buying lemons” is income (money in). (a) False (b) True
10. 10.📒 Income or expense: printing posters? (a) income (b) expense
11. 11.📒 Income or expense: money from sales? (a) income (b) expense
12. 12.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) paying the stall fee (d) buying lemons
13. 13.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
14. 14.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹190 (ribbon)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: buying lemons? (a) income (b) expense
16. 16.True or false: “payment for a cake order” is income (money in). (a) False (b) True
17. 17.True or false: “money from sales” is an expense (money out). (a) True (b) False
18. 18.Tara’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹200 (stall fee)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: bus fare to the market? (a) expense (b) income
20. 20.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) buying lemons
21. 21.Rohan’s income was ₹340 and the profit was ₹270. One expense was ₹50 (ribbon). How much was the other expense, for sugar (in ₹)?
22. 22.Ishaan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
23. 23.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
24. 24.True or false: “cash from selling plants” is income (money in). (a) True (b) False
25. 25.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) money from sales (d) tutoring fees received
27. 27.True or false: “bus fare to the market” is income (money in). (a) True (b) False
28. 28.Dev’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
29. 29.Tara’s stall took in ₹180 on Friday, ₹80 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: tutoring fees received? (a) expense (b) income
31. 31.Gurpreet’s income was ₹330 and the profit was ₹170. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
32. 32.Rohan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
33. 33.True or false: “printing posters” is income (money in). (a) True (b) False
34. 34.Dev’s income was ₹350 and the profit was ₹330. One expense was ₹10 (ribbon). How much was the other expense, for card paper (in ₹)?
35. 35.Joseph’s income was ₹190 and the profit was ₹100. One expense was ₹80 (transport). How much was the other expense, for posters (in ₹)?
36. 36.Riya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
37. 37.Arjun’s income was ₹350 and the profit was ₹60. One expense was ₹160 (lemons). How much was the other expense, for paper cups (in ₹)?
38. 38.Tara’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
39. 39.Dev’s stall took in ₹90 on Friday, ₹280 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
40. 40.Ishaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹210 (ribbon)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?

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