Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 657 · 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.Saanvi’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹170 (lemons)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
2. 2.Ananya’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹100 (card paper)
   Expense: ₹140 (lemons)
   What is the profit (in ₹)?
3. 3.True or false: “paying the stall fee” is income (money in). (a) False (b) True
4. 4.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) paying the stall fee (d) bus fare to the market
5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) cash from selling plants
7. 7.Aarav’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹120 (lemons)
   Expense: ₹40 (card paper)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: payment for a cake order? (a) income (b) expense
9. 9.True or false: “buying lemons” is income (money in). (a) False (b) True
10. 10.Arjun’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
12. 12.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) bus fare to the market (d) printing posters
13. 13.Zoya’s income was ₹320 and the profit was ₹230. One expense was ₹40 (stall fee). How much was the other expense, for lemons (in ₹)?
14. 14.Dev’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
15. 15.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
16. 16.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
17. 17.True or false: “payment for a cake order” is income (money in). (a) True (b) False
18. 18.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) cash from selling plants (d) money from sales
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
20. 20.Dev’s income was ₹130 and the profit was ₹10. One expense was ₹90 (lemons). How much was the other expense, for stall fee (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) money from sales
22. 22.Dev’s stall took in ₹200 on Friday, ₹170 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
23. 23.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
24. 24.📒 Income or expense: a card order paid? (a) income (b) expense
25. 25.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) paying the stall fee
26. 26.True or false: “money from sales” is an expense (money out). (a) True (b) False
27. 27.📒 Income or expense: paying the stall fee? (a) expense (b) income
28. 28.Diya’s stall took in ₹120 on Friday, ₹270 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: buying paper cups? (a) expense (b) income
30. 30.Vihaan’s income was ₹420 and the profit was ₹290. One expense was ₹80 (posters). How much was the other expense, for ribbon (in ₹)?
31. 31.Kavya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
32. 32.True or false: “a card order paid” is an expense (money out). (a) True (b) False
33. 33.Arjun’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
34. 34.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
35. 35.True or false: “printing posters” is an expense (money out). (a) False (b) True
36. 36.Saanvi’s income was ₹270 and the profit was ₹50. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
37. 37.Tara’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹200 (card paper)
    How much is the loss (in ₹)?
38. 38.Joseph’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹180 (lemons)
    How much is the loss (in ₹)?
39. 39.Dev’s stall took in ₹210 on Friday, ₹300 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
40. 40.Aarav’s income was ₹190 and the profit was ₹100. One expense was ₹10 (transport). How much was the other expense, for sugar (in ₹)?

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