Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 561 · 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.Kabir’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹110 (paper cups)
   Expense: ₹120 (posters)
   What is the profit (in ₹)?
2. 2.True or false: “cash from selling plants” is income (money in). (a) False (b) True
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) buying lemons
4. 4.Aarav’s stall took in ₹330 on Friday, ₹340 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: payment for a cake order? (a) income (b) expense
6. 6.Gurpreet’s income was ₹370 and the profit was ₹80. One expense was ₹60 (lemons). How much was the other expense, for ribbon (in ₹)?
7. 7.Arjun’s stall took in ₹260 on Friday, ₹50 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: buying lemons? (a) income (b) expense
9. 9.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) buying paper cups (d) printing posters
10. 10.Rohan’s income was ₹420 and the profit was ₹120. One expense was ₹140 (paper cups). How much was the other expense, for lemons (in ₹)?
11. 11.📒 Income or expense: bus fare to the market? (a) income (b) expense
12. 12.Aarav’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹190 (lemons)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) buying paper cups
14. 14.Meera’s stall took in ₹320 on Friday, ₹210 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
15. 15.Kabir’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
16. 16.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
17. 17.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) cash from selling plants (d) tutoring fees received
18. 18.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) cash from selling plants (d) tutoring fees received
19. 19.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
20. 20.Rohan’s stall took in ₹60 on Friday, ₹260 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
21. 21.Vihaan’s income was ₹120 and the profit was ₹40. One expense was ₹40 (ribbon). How much was the other expense, for paper cups (in ₹)?
22. 22.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
23. 23.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
24. 24.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
25. 25.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying paper cups (d) buying lemons
26. 26.📒 Income or expense: cash from selling plants? (a) expense (b) income
27. 27.Zoya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: a card order paid? (a) income (b) expense
29. 29.📒 Income or expense: money from sales? (a) income (b) expense
30. 30.Riya’s income was ₹400 and the profit was ₹140. One expense was ₹230 (paper cups). How much was the other expense, for posters (in ₹)?
31. 31.Diya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
32. 32.True or false: “payment for a cake order” is income (money in). (a) False (b) True
33. 33.Vihaan’s income was ₹250 and the profit was ₹160. One expense was ₹40 (transport). How much was the other expense, for sugar (in ₹)?
34. 34.📒 Income or expense: printing posters? (a) income (b) expense
35. 35.True or false: “buying lemons” is an expense (money out). (a) False (b) True
36. 36.📒 Income or expense: tutoring fees received? (a) expense (b) income
37. 37.Zoya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹220 (sugar)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
38. 38.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
39. 39.Joseph’s stall took in ₹310 on Friday, ₹300 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
40. 40.Vihaan’s income was ₹440 and the profit was ₹400. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?

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