Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 562 · 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: “payment for a cake order” is an expense (money out). (a) False (b) True
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.Gurpreet’s stall took in ₹320 on Friday, ₹340 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: money from sales? (a) income (b) expense
5. 5.Gurpreet’s stall took in ₹120 on Friday, ₹200 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
6. 6.Farhan’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹500 (evening sales)
   Expense: ₹160 (ribbon)
   Expense: ₹150 (sugar)
   What is the profit (in ₹)?
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) money from sales (d) tutoring fees received
8. 8.Gurpreet’s income was ₹290 and the profit was ₹190. One expense was ₹10 (card paper). How much was the other expense, for transport (in ₹)?
9. 9.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) money from sales (d) tutoring fees received
10. 10.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) paying the stall fee (d) buying lemons
11. 11.Meera’s stall took in ₹80 on Friday, ₹340 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: printing posters? (a) expense (b) income
13. 13.Saanvi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
14. 14.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) a card order paid
15. 15.Rohan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹250 (ribbon)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
16. 16.Ananya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
17. 17.Vihaan’s income was ₹240 and the profit was ₹100. One expense was ₹80 (card paper). How much was the other expense, for ribbon (in ₹)?
18. 18.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
19. 19.Riya’s income was ₹410 and the profit was ₹370. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) money from sales (d) buying lemons
21. 21.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) money from sales (d) tutoring fees received
22. 22.Joseph’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹290 (card paper)
    How much is the loss (in ₹)?
23. 23.Nisha’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
24. 24.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
25. 25.True or false: “printing posters” is an expense (money out). (a) True (b) False
26. 26.Kabir’s stall took in ₹210 on Friday, ₹380 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
27. 27.Aarav’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹150 (transport)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
29. 29.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) money from sales (d) tutoring fees received
30. 30.True or false: “buying lemons” is income (money in). (a) False (b) True
31. 31.True or false: “bus fare to the market” is income (money in). (a) True (b) False
32. 32.Kabir’s income was ₹180 and the profit was ₹30. One expense was ₹50 (posters). How much was the other expense, for stall fee (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
34. 34.Joseph’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
35. 35.Joseph’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
36. 36.Diya’s stall took in ₹160 on Friday, ₹180 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
37. 37.Lakshmi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
38. 38.Farhan’s income was ₹110 and the profit was ₹60. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
39. 39.Vihaan’s stall took in ₹130 on Friday, ₹230 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
40. 40.📒 Income or expense: payment for a cake order? (a) income (b) expense

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