Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 624 · 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.Dev’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹160 (transport)
   Expense: ₹70 (lemons)
   What is the profit (in ₹)?
2. 2.Vihaan’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹60 (paper cups)
   How much is the loss (in ₹)?
3. 3.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) payment for a cake order
4. 4.Arjun’s stall took in ₹110 on Friday, ₹70 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) cash from selling plants
6. 6.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) printing posters
7. 7.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
8. 8.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.True or false: “money from sales” is income (money in). (a) False (b) True
11. 11.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹240 (stall fee)
    How much is the loss (in ₹)?
12. 12.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) tutoring fees received (d) money from sales
13. 13.True or false: “a card order paid” is an expense (money out). (a) False (b) True
14. 14.Rohan’s stall took in ₹110 on Friday, ₹360 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
15. 15.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
16. 16.📒 Income or expense: paying the stall fee? (a) income (b) expense
17. 17.True or false: “printing posters” is an expense (money out). (a) True (b) False
18. 18.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
19. 19.Meera’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
20. 20.Kabir’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
21. 21.Nisha’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
22. 22.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
23. 23.Farhan’s stall took in ₹360 on Friday, ₹370 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
24. 24.Ananya’s income was ₹190 and the profit was ₹170. One expense was ₹10 (paper cups). How much was the other expense, for sugar (in ₹)?
25. 25.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
26. 26.Dev’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying paper cups (d) buying lemons
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) tutoring fees received
29. 29.Dev’s income was ₹200 and the profit was ₹150. One expense was ₹30 (posters). How much was the other expense, for paper cups (in ₹)?
30. 30.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) tutoring fees received (d) payment for a cake order
31. 31.True or false: “buying paper cups” is income (money in). (a) True (b) False
32. 32.Diya’s income was ₹190 and the profit was ₹90. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
33. 33.📒 Income or expense: money from sales? (a) income (b) expense
34. 34.Dev’s stall took in ₹90 on Friday, ₹360 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “printing posters” is income (money in). (a) False (b) True
36. 36.📒 Income or expense: buying paper cups? (a) income (b) expense
37. 37.Farhan’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
38. 38.Kabir’s income was ₹200 and the profit was ₹170. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
39. 39.Ishaan’s stall took in ₹230 on Friday, ₹190 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “buying lemons” is income (money in). (a) False (b) True

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