Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 659 · 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 a rainy day:
   Income: ₹80 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹80 (paper cups)
   How much is the loss (in ₹)?
2. 2.Rohan’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹10 (posters)
   Expense: ₹160 (card paper)
   How much is the loss (in ₹)?
3. 3.True or false: “money from sales” is income (money in). (a) False (b) True
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) buying paper cups
5. 5.Meera’s income was ₹190 and the profit was ₹130. One expense was ₹40 (sugar). How much was the other expense, for transport (in ₹)?
6. 6.Gurpreet’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹10 (card paper)
   Expense: ₹300 (transport)
   How much is the loss (in ₹)?
7. 7.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
8. 8.Gurpreet’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹30 (ribbon)
   Expense: ₹160 (transport)
   What is the profit (in ₹)?
9. 9.Farhan’s income was ₹300 and the profit was ₹70. One expense was ₹200 (card paper). How much was the other expense, for posters (in ₹)?
10. 10.Joseph’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: money from sales? (a) expense (b) income
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
13. 13.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) buying paper cups
14. 14.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) a card order paid (d) paying the stall fee
15. 15.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: tutoring fees received? (a) income (b) expense
17. 17.Gurpreet’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
18. 18.True or false: “buying paper cups” is income (money in). (a) True (b) False
19. 19.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
20. 20.📒 Income or expense: printing posters? (a) expense (b) income
21. 21.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying lemons (d) payment for a cake order
22. 22.Nisha’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
23. 23.Gurpreet’s stall took in ₹70 on Friday, ₹110 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
25. 25.Aarav’s stall took in ₹90 on Friday, ₹400 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
27. 27.True or false: “payment for a cake order” is income (money in). (a) False (b) True
28. 28.Zoya’s income was ₹180 and the profit was ₹30. One expense was ₹70 (transport). How much was the other expense, for card paper (in ₹)?
29. 29.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
30. 30.True or false: “tutoring fees received” is income (money in). (a) False (b) True
31. 31.Zoya’s income was ₹180 and the profit was ₹160. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
32. 32.True or false: “paying the stall fee” is income (money in). (a) True (b) False
33. 33.Riya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
34. 34.Vihaan’s stall took in ₹150 on Friday, ₹150 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) money from sales (d) paying the stall fee
36. 36.Meera’s income was ₹160 and the profit was ₹60. One expense was ₹90 (stall fee). How much was the other expense, for ribbon (in ₹)?
37. 37.📒 Income or expense: paying the stall fee? (a) income (b) expense
38. 38.Ishaan’s income was ₹110 and the profit was ₹90. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
39. 39.True or false: “money from sales” is an expense (money out). (a) True (b) False
40. 40.Aarav’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹280 (sugar)
    How much is the loss (in ₹)?

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