Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 609 · 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.Joseph’s income was ₹140 and the profit was ₹120. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
2. 2.Ishaan’s stall took in ₹190 on Friday, ₹400 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
3. 3.True or false: “bus fare to the market” is income (money in). (a) False (b) True
4. 4.Tara’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹120 (sugar)
   Expense: ₹90 (lemons)
   What is the profit (in ₹)?
5. 5.Ananya’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹80 (stall fee)
   Expense: ₹130 (card paper)
   How much is the loss (in ₹)?
6. 6.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) bus fare to the market
7. 7.📒 Income or expense: tutoring fees received? (a) income (b) expense
8. 8.📒 Income or expense: bus fare to the market? (a) expense (b) income
9. 9.Meera’s income was ₹300 and the profit was ₹80. One expense was ₹200 (card paper). How much was the other expense, for lemons (in ₹)?
10. 10.Nisha’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
11. 11.Kabir’s income was ₹140 and the profit was ₹20. One expense was ₹60 (card paper). How much was the other expense, for sugar (in ₹)?
12. 12.📒 Income or expense: buying paper cups? (a) income (b) expense
13. 13.True or false: “buying paper cups” is income (money in). (a) False (b) True
14. 14.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) a card order paid (d) tutoring fees received
15. 15.📒 Income or expense: payment for a cake order? (a) expense (b) income
16. 16.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
17. 17.📒 Income or expense: a card order paid? (a) expense (b) income
18. 18.📒 Income or expense: printing posters? (a) expense (b) income
19. 19.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
20. 20.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) money from sales (d) payment for a cake order
21. 21.True or false: “money from sales” is income (money in). (a) False (b) True
22. 22.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
23. 23.📒 Income or expense: cash from selling plants? (a) income (b) expense
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
25. 25.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) buying paper cups
26. 26.📒 Income or expense: paying the stall fee? (a) income (b) expense
27. 27.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) tutoring fees received (d) printing posters
28. 28.Aarav’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹190 (lemons)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
29. 29.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
30. 30.Nisha’s income was ₹160 and the profit was ₹10. One expense was ₹110 (paper cups). How much was the other expense, for card paper (in ₹)?
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) cash from selling plants (d) tutoring fees received
32. 32.Kabir’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
33. 33.Vihaan’s income was ₹200 and the profit was ₹20. One expense was ₹150 (posters). How much was the other expense, for sugar (in ₹)?
34. 34.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
35. 35.📒 Income or expense: money from sales? (a) expense (b) income
36. 36.Rohan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹370 (lemons)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
37. 37.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
38. 38.📒 Income or expense: buying lemons? (a) expense (b) income
39. 39.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) a card order paid (d) printing posters

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