Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 631 · 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.Nisha’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹30 (ribbon)
   Expense: ₹40 (stall fee)
   What is the profit (in ₹)?
2. 2.Kavya’s income was ₹200 and the profit was ₹100. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
3. 3.Nisha’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹180 (transport)
   Expense: ₹130 (card paper)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.Arjun’s income was ₹460 and the profit was ₹320. One expense was ₹110 (stall fee). How much was the other expense, for transport (in ₹)?
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying lemons (d) paying the stall fee
8. 8.📒 Income or expense: paying the stall fee? (a) income (b) expense
9. 9.Meera’s record for the day:
   Income: ₹310 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹30 (ribbon)
   Expense: ₹160 (transport)
   What is the profit (in ₹)?
10. 10.Tara’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
11. 11.Joseph’s income was ₹430 and the profit was ₹50. One expense was ₹270 (lemons). How much was the other expense, for paper cups (in ₹)?
12. 12.True or false: “printing posters” is an expense (money out). (a) False (b) True
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.True or false: “bus fare to the market” is income (money in). (a) False (b) True
15. 15.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
16. 16.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
17. 17.Gurpreet’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
18. 18.Saanvi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (transport)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
19. 19.Ananya’s income was ₹350 and the profit was ₹100. One expense was ₹90 (paper cups). How much was the other expense, for transport (in ₹)?
20. 20.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) cash from selling plants (d) tutoring fees received
21. 21.Farhan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹190 (stall fee)
    How much is the loss (in ₹)?
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) tutoring fees received (d) cash from selling plants
23. 23.Tara’s income was ₹430 and the profit was ₹220. One expense was ₹110 (posters). How much was the other expense, for stall fee (in ₹)?
24. 24.Tara’s income was ₹190 and the profit was ₹30. One expense was ₹40 (sugar). How much was the other expense, for transport (in ₹)?
25. 25.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹230 (transport)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
27. 27.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
28. 28.Meera’s stall took in ₹220 on Friday, ₹370 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
29. 29.Gurpreet’s stall took in ₹230 on Friday, ₹110 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
30. 30.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
31. 31.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
32. 32.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) bus fare to the market (d) payment for a cake order
33. 33.True or false: “cash from selling plants” is income (money in). (a) False (b) True
34. 34.Farhan’s stall took in ₹170 on Friday, ₹240 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “buying paper cups” is income (money in). (a) False (b) True
36. 36.Vihaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹280 (paper cups)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
37. 37.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹150 (posters)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: payment for a cake order? (a) expense (b) income
39. 39.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) paying the stall fee
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) payment for a cake order (d) buying paper cups

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