Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 642 · 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: ₹140 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹70 (card paper)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
2. 2.Aarav’s stall took in ₹180 on Friday, ₹70 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.True or false: “money from sales” is income (money in). (a) True (b) False
5. 5.📒 Income or expense: cash from selling plants? (a) expense (b) income
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.Nisha’s income was ₹190 and the profit was ₹30. One expense was ₹30 (stall fee). How much was the other expense, for transport (in ₹)?
8. 8.Diya’s income was ₹370 and the profit was ₹340. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?
9. 9.📒 Income or expense: a card order paid? (a) expense (b) income
10. 10.True or false: “cash from selling plants” is income (money in). (a) False (b) True
11. 11.📒 Income or expense: paying the stall fee? (a) expense (b) income
12. 12.📒 Income or expense: buying lemons? (a) expense (b) income
13. 13.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
14. 14.Lakshmi’s stall took in ₹190 on Friday, ₹340 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
16. 16.True or false: “tutoring fees received” is income (money in). (a) False (b) True
17. 17.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
18. 18.Rohan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
19. 19.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
20. 20.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
21. 21.Joseph’s stall took in ₹130 on Friday, ₹150 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
22. 22.Vihaan’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
23. 23.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
24. 24.True or false: “money from sales” is an expense (money out). (a) True (b) False
25. 25.Zoya’s income was ₹250 and the profit was ₹10. One expense was ₹60 (transport). How much was the other expense, for ribbon (in ₹)?
26. 26.True or false: “printing posters” is income (money in). (a) False (b) True
27. 27.📒 Income or expense: bus fare to the market? (a) income (b) expense
28. 28.True or false: “buying paper cups” is income (money in). (a) True (b) False
29. 29.Ananya’s income was ₹130 and the profit was ₹90. One expense was ₹20 (sugar). How much was the other expense, for ribbon (in ₹)?
30. 30.Zoya’s income was ₹200 and the profit was ₹180. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?
31. 31.Lakshmi’s stall took in ₹330 on Friday, ₹330 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “buying lemons” is income (money in). (a) False (b) True
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) buying paper cups
34. 34.Arjun’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
35. 35.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
36. 36.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) payment for a cake order (d) money from sales
37. 37.Aarav’s income was ₹130 and the profit was ₹40. One expense was ₹60 (paper cups). How much was the other expense, for card paper (in ₹)?
38. 38.Tara’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
39. 39.Joseph’s income was ₹100 and the profit was ₹10. One expense was ₹70 (stall fee). How much was the other expense, for lemons (in ₹)?
40. 40.Joseph’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?

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