Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 630 · 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.Zoya’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹200 (card paper)
   Expense: ₹150 (paper cups)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) cash from selling plants (d) money from sales
3. 3.Dev’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹90 (lemons)
   Expense: ₹80 (posters)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.📒 Income or expense: cash from selling plants? (a) expense (b) income
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) a card order paid (d) cash from selling plants
7. 7.Zoya’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹50 (stall fee)
   Expense: ₹130 (transport)
   How much is the loss (in ₹)?
8. 8.True or false: “buying lemons” is income (money in). (a) True (b) False
9. 9.Gurpreet’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹190 (lemons)
   Expense: ₹10 (transport)
   How much is the loss (in ₹)?
10. 10.Zoya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
11. 11.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
12. 12.True or false: “payment for a cake order” is income (money in). (a) True (b) False
13. 13.True or false: “money from sales” is income (money in). (a) True (b) False
14. 14.Joseph’s income was ₹370 and the profit was ₹130. One expense was ₹90 (stall fee). How much was the other expense, for ribbon (in ₹)?
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) money from sales (d) buying lemons
16. 16.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
17. 17.Farhan’s income was ₹430 and the profit was ₹260. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
18. 18.True or false: “cash from selling plants” is income (money in). (a) True (b) False
19. 19.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
20. 20.📒 Income or expense: printing posters? (a) expense (b) income
21. 21.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
22. 22.📒 Income or expense: buying lemons? (a) income (b) expense
23. 23.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
24. 24.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
25. 25.Rohan’s income was ₹190 and the profit was ₹70. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
26. 26.Riya’s income was ₹190 and the profit was ₹130. One expense was ₹30 (ribbon). How much was the other expense, for sugar (in ₹)?
27. 27.Nisha’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
28. 28.True or false: “money from sales” is an expense (money out). (a) False (b) True
29. 29.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) tutoring fees received
30. 30.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying paper cups (d) paying the stall fee
31. 31.Vihaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
32. 32.Rohan’s stall took in ₹260 on Friday, ₹150 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
33. 33.Meera’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹240 (lemons)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
34. 34.Saanvi’s income was ₹130 and the profit was ₹30. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?
35. 35.📒 Income or expense: money from sales? (a) expense (b) income
36. 36.Saanvi’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
37. 37.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (transport)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
38. 38.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.Zoya’s stall took in ₹340 on Friday, ₹280 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?

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