Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 573 · 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.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
2. 2.Zoya’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹100 (transport)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
3. 3.True or false: “buying lemons” is income (money in). (a) False (b) True
4. 4.Dev’s stall took in ₹310 on Friday, ₹50 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) money from sales (d) buying paper cups
6. 6.Gurpreet’s stall took in ₹130 on Friday, ₹120 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
7. 7.Diya’s income was ₹430 and the profit was ₹200. One expense was ₹110 (sugar). How much was the other expense, for posters (in ₹)?
8. 8.Nisha’s income was ₹130 and the profit was ₹60. One expense was ₹50 (paper cups). How much was the other expense, for stall fee (in ₹)?
9. 9.Kavya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹90 (lemons)
   What is the profit (in ₹)?
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
11. 11.📒 Income or expense: bus fare to the market? (a) expense (b) income
12. 12.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) printing posters (d) payment for a cake order
13. 13.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) buying paper cups (d) buying lemons
14. 14.Saanvi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹300 (ribbon)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
15. 15.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
16. 16.Rohan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹320 (card paper)
    How much is the loss (in ₹)?
17. 17.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) buying paper cups (d) a card order paid
18. 18.Zoya’s income was ₹410 and the profit was ₹30. One expense was ₹280 (lemons). How much was the other expense, for stall fee (in ₹)?
19. 19.Gurpreet’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
20. 20.Meera’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
21. 21.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
22. 22.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
23. 23.Nisha’s stall took in ₹380 on Friday, ₹400 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: buying paper cups? (a) expense (b) income
25. 25.Dev’s stall took in ₹90 on Friday, ₹70 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
27. 27.Zoya’s stall took in ₹110 on Friday, ₹290 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
28. 28.Meera’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
29. 29.Gurpreet’s income was ₹500 and the profit was ₹130. One expense was ₹200 (sugar). How much was the other expense, for posters (in ₹)?
30. 30.True or false: “tutoring fees received” is income (money in). (a) False (b) True
31. 31.Gurpreet’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: a card order paid? (a) expense (b) income
33. 33.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (posters)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
34. 34.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) money from sales (d) a card order paid
35. 35.Riya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
36. 36.Nisha’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
37. 37.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) buying paper cups
38. 38.Zoya’s income was ₹310 and the profit was ₹30. One expense was ₹90 (lemons). How much was the other expense, for card paper (in ₹)?
39. 39.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
40. 40.Farhan’s income was ₹120 and the profit was ₹40. One expense was ₹40 (card paper). How much was the other expense, for transport (in ₹)?

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