Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 680 · 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.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
2. 2.Kabir’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹200 (transport)
   Expense: ₹40 (paper cups)
   What is the profit (in ₹)?
3. 3.Lakshmi’s stall took in ₹130 on Friday, ₹60 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) tutoring fees received
5. 5.Lakshmi’s income was ₹360 and the profit was ₹30. One expense was ₹300 (stall fee). How much was the other expense, for ribbon (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
7. 7.True or false: “money from sales” is an expense (money out). (a) True (b) False
8. 8.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) paying the stall fee (d) tutoring fees received
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.Lakshmi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
11. 11.True or false: “payment for a cake order” is income (money in). (a) False (b) True
12. 12.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
13. 13.Rohan’s stall took in ₹300 on Friday, ₹50 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “tutoring fees received” is income (money in). (a) False (b) True
15. 15.Kavya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
16. 16.Saanvi’s stall took in ₹180 on Friday, ₹400 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: buying paper cups? (a) income (b) expense
18. 18.📒 Income or expense: printing posters? (a) income (b) expense
19. 19.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
20. 20.Farhan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
21. 21.True or false: “printing posters” is an expense (money out). (a) False (b) True
22. 22.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: buying lemons? (a) expense (b) income
24. 24.True or false: “buying paper cups” is income (money in). (a) False (b) True
25. 25.📒 Income or expense: money from sales? (a) income (b) expense
26. 26.Kabir’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹50 (transport)
    Expense: ₹210 (card paper)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: payment for a cake order? (a) income (b) expense
28. 28.Ananya’s stall took in ₹290 on Friday, ₹70 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
29. 29.Rohan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
30. 30.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
31. 31.True or false: “money from sales” is income (money in). (a) True (b) False
32. 32.Aarav’s income was ₹370 and the profit was ₹10. One expense was ₹180 (card paper). How much was the other expense, for stall fee (in ₹)?
33. 33.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) printing posters (d) paying the stall fee
34. 34.Kavya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: paying the stall fee? (a) expense (b) income
36. 36.Arjun’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
37. 37.True or false: “printing posters” is income (money in). (a) False (b) True
38. 38.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) bus fare to the market (d) money from sales
39. 39.📒 Income or expense: bus fare to the market? (a) income (b) expense
40. 40.Farhan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?

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