Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 672 · 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.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
2. 2.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
3. 3.Zoya’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹40 (ribbon)
   Expense: ₹90 (stall fee)
   What is the profit (in ₹)?
4. 4.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) buying paper cups
5. 5.True or false: “printing posters” is income (money in). (a) False (b) True
6. 6.True or false: “money from sales” is an expense (money out). (a) False (b) True
7. 7.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
8. 8.Riya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹60 (lemons)
   Expense: ₹30 (transport)
   How much is the loss (in ₹)?
9. 9.Kabir’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹190 (paper cups)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
10. 10.Arjun’s stall took in ₹360 on Friday, ₹380 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
11. 11.Ishaan’s income was ₹230 and the profit was ₹130. One expense was ₹50 (posters). How much was the other expense, for lemons (in ₹)?
12. 12.Aarav’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹310 (paper cups)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
13. 13.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) bus fare to the market (d) printing posters
14. 14.📒 Income or expense: payment for a cake order? (a) income (b) expense
15. 15.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
16. 16.📒 Income or expense: bus fare to the market? (a) expense (b) income
17. 17.Rohan’s stall took in ₹300 on Friday, ₹310 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) buying lemons (d) bus fare to the market
19. 19.Riya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
21. 21.Kabir’s stall took in ₹150 on Friday, ₹340 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: cash from selling plants? (a) expense (b) income
23. 23.Vihaan’s income was ₹360 and the profit was ₹220. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
24. 24.Saanvi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
25. 25.Arjun’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹270 (paper cups)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
26. 26.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.Saanvi’s income was ₹270 and the profit was ₹170. One expense was ₹20 (posters). How much was the other expense, for ribbon (in ₹)?
29. 29.Lakshmi’s income was ₹480 and the profit was ₹170. One expense was ₹90 (paper cups). How much was the other expense, for posters (in ₹)?
30. 30.Joseph’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹180 (ribbon)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
31. 31.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying lemons (d) payment for a cake order
32. 32.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
33. 33.Ananya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
34. 34.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) payment for a cake order (d) money from sales
35. 35.Riya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
36. 36.True or false: “buying lemons” is an expense (money out). (a) False (b) True
37. 37.Zoya’s stall took in ₹250 on Friday, ₹370 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
38. 38.Nisha’s income was ₹400 and the profit was ₹350. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
39. 39.📒 Income or expense: buying lemons? (a) income (b) expense
40. 40.📒 Income or expense: money from sales? (a) expense (b) income

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