Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 557 · 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: “bus fare to the market” is an expense (money out). (a) True (b) False
2. 2.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
3. 3.Gurpreet’s income was ₹480 and the profit was ₹260. One expense was ₹80 (paper cups). How much was the other expense, for stall fee (in ₹)?
4. 4.Tara’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹160 (card paper)
   Expense: ₹60 (posters)
   What is the profit (in ₹)?
5. 5.Farhan’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹140 (lemons)
   Expense: ₹70 (ribbon)
   How much is the loss (in ₹)?
6. 6.True or false: “bus fare to the market” is income (money in). (a) False (b) True
7. 7.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
8. 8.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) paying the stall fee (d) buying paper cups
9. 9.Nisha’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹10 (stall fee)
   Expense: ₹240 (card paper)
   How much is the loss (in ₹)?
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
11. 11.Kavya’s income was ₹410 and the profit was ₹150. One expense was ₹180 (card paper). How much was the other expense, for lemons (in ₹)?
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) payment for a cake order (d) buying lemons
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
14. 14.True or false: “buying lemons” is income (money in). (a) False (b) True
15. 15.Kavya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
16. 16.Nisha’s income was ₹340 and the profit was ₹150. One expense was ₹90 (lemons). How much was the other expense, for ribbon (in ₹)?
17. 17.Kavya’s stall took in ₹130 on Friday, ₹300 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: tutoring fees received? (a) expense (b) income
19. 19.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
20. 20.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
21. 21.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) expense (b) income
23. 23.Lakshmi’s income was ₹120 and the profit was ₹10. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
24. 24.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
25. 25.Vihaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (posters)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
26. 26.Riya’s income was ₹440 and the profit was ₹360. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?
27. 27.Lakshmi’s income was ₹340 and the profit was ₹280. One expense was ₹50 (transport). How much was the other expense, for sugar (in ₹)?
28. 28.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) tutoring fees received (d) money from sales
29. 29.Kavya’s income was ₹130 and the profit was ₹40. One expense was ₹80 (paper cups). How much was the other expense, for sugar (in ₹)?
30. 30.True or false: “tutoring fees received” is income (money in). (a) True (b) False
31. 31.True or false: “buying lemons” is an expense (money out). (a) True (b) False
32. 32.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) money from sales
33. 33.Zoya’s stall took in ₹120 on Friday, ₹290 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
34. 34.Tara’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
35. 35.Arjun’s stall took in ₹220 on Friday, ₹140 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
36. 36.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹320 (card paper)
    How much is the loss (in ₹)?
37. 37.Zoya’s income was ₹310 and the profit was ₹180. One expense was ₹100 (stall fee). How much was the other expense, for card paper (in ₹)?
38. 38.Farhan’s stall took in ₹130 on Friday, ₹90 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: bus fare to the market? (a) expense (b) income
40. 40.📒 Income or expense: buying paper cups? (a) income (b) expense

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