Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 548 · 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.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) cash from selling plants (d) money from sales
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) cash from selling plants (d) buying lemons
3. 3.Farhan’s record for the day:
   Income: ₹330 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹150 (transport)
   Expense: ₹100 (ribbon)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.Ananya’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹110 (paper cups)
   Expense: ₹180 (card paper)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying paper cups (d) payment for a cake order
7. 7.Meera’s stall took in ₹280 on Friday, ₹300 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
8. 8.Nisha’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹50 (ribbon)
   Expense: ₹70 (stall fee)
   How much is the loss (in ₹)?
9. 9.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
10. 10.📒 Income or expense: tutoring fees received? (a) income (b) expense
11. 11.Farhan’s income was ₹450 and the profit was ₹150. One expense was ₹270 (transport). How much was the other expense, for card paper (in ₹)?
12. 12.Dev’s income was ₹400 and the profit was ₹70. One expense was ₹290 (transport). How much was the other expense, for paper cups (in ₹)?
13. 13.Kavya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
14. 14.Saanvi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
15. 15.Zoya’s stall took in ₹400 on Friday, ₹170 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
16. 16.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) cash from selling plants (d) tutoring fees received
17. 17.Gurpreet’s income was ₹210 and the profit was ₹80. One expense was ₹120 (paper cups). How much was the other expense, for sugar (in ₹)?
18. 18.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
19. 19.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
20. 20.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
21. 21.Ananya’s income was ₹240 and the profit was ₹10. One expense was ₹220 (paper cups). How much was the other expense, for transport (in ₹)?
22. 22.Kabir’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹260 (stall fee)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
23. 23.Rohan’s stall took in ₹330 on Friday, ₹110 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) bus fare to the market (d) buying lemons
25. 25.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) printing posters
26. 26.Ananya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
27. 27.Nisha’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
28. 28.Kavya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
29. 29.Riya’s income was ₹270 and the profit was ₹10. One expense was ₹250 (paper cups). How much was the other expense, for stall fee (in ₹)?
30. 30.True or false: “buying lemons” is an expense (money out). (a) False (b) True
31. 31.Saanvi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
32. 32.Gurpreet’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
33. 33.Zoya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
34. 34.Lakshmi’s stall took in ₹280 on Friday, ₹80 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) a card order paid (d) tutoring fees received
36. 36.Zoya’s stall took in ₹120 on Friday, ₹260 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
37. 37.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
38. 38.Diya’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
39. 39.True or false: “paying the stall fee” is income (money in). (a) False (b) True
40. 40.Ananya’s stall took in ₹120 on Friday, ₹60 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?

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