Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 656 · 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.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
2. 2.Rohan’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹70 (lemons)
   Expense: ₹120 (posters)
   What is the profit (in ₹)?
3. 3.Diya’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹280 (paper cups)
   Expense: ₹90 (transport)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: paying the stall fee? (a) income (b) expense
5. 5.Tara’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹40 (lemons)
   What is the profit (in ₹)?
6. 6.Arjun’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹90 (posters)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: tutoring fees received? (a) income (b) expense
8. 8.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
9. 9.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) a card order paid (d) payment for a cake order
10. 10.True or false: “cash from selling plants” is income (money in). (a) True (b) False
11. 11.Zoya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
12. 12.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
13. 13.📒 Income or expense: money from sales? (a) expense (b) income
14. 14.Farhan’s stall took in ₹70 on Friday, ₹260 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “buying lemons” is income (money in). (a) True (b) False
16. 16.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) cash from selling plants (d) payment for a cake order
17. 17.Tara’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) printing posters (d) buying paper cups
19. 19.📒 Income or expense: buying lemons? (a) income (b) expense
20. 20.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
21. 21.📒 Income or expense: bus fare to the market? (a) income (b) expense
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
23. 23.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) tutoring fees received (d) cash from selling plants
24. 24.Ishaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
25. 25.Kavya’s income was ₹230 and the profit was ₹40. One expense was ₹110 (lemons). How much was the other expense, for posters (in ₹)?
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) buying lemons (d) payment for a cake order
27. 27.Ishaan’s income was ₹250 and the profit was ₹90. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
28. 28.Gurpreet’s stall took in ₹150 on Friday, ₹190 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) printing posters (d) buying paper cups
30. 30.Lakshmi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
31. 31.Aarav’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹330 (lemons)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) printing posters (d) buying paper cups
33. 33.Saanvi’s stall took in ₹150 on Friday, ₹60 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
34. 34.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
35. 35.True or false: “bus fare to the market” is income (money in). (a) True (b) False
36. 36.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
37. 37.Arjun’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: printing posters? (a) income (b) expense
39. 39.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
40. 40.True or false: “buying paper cups” is an expense (money out). (a) False (b) True

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