Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 685 · 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.Diya’s record for the day:
   Income: ₹470 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹190 (sugar)
   Expense: ₹130 (posters)
   What is the profit (in ₹)?
2. 2.Diya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹40 (sugar)
   What is the profit (in ₹)?
3. 3.True or false: “a card order paid” is income (money in). (a) True (b) False
4. 4.Diya’s record for the day:
   Income: ₹440 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹60 (paper cups)
   What is the profit (in ₹)?
5. 5.Ananya’s stall took in ₹170 on Friday, ₹370 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
6. 6.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
7. 7.Dev’s income was ₹470 and the profit was ₹260. One expense was ₹20 (card paper). How much was the other expense, for transport (in ₹)?
8. 8.📒 Income or expense: tutoring fees received? (a) expense (b) income
9. 9.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) a card order paid (d) printing posters
10. 10.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) tutoring fees received (d) payment for a cake order
11. 11.Vihaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹190 (sugar)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.Kavya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
14. 14.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
15. 15.Dev’s income was ₹370 and the profit was ₹70. One expense was ₹160 (paper cups). How much was the other expense, for lemons (in ₹)?
16. 16.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
17. 17.Nisha’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
18. 18.True or false: “money from sales” is an expense (money out). (a) False (b) True
19. 19.Gurpreet’s income was ₹420 and the profit was ₹10. One expense was ₹50 (lemons). How much was the other expense, for stall fee (in ₹)?
20. 20.Meera’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
22. 22.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
23. 23.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) cash from selling plants (d) a card order paid
24. 24.Kabir’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
25. 25.Dev’s income was ₹250 and the profit was ₹90. One expense was ₹40 (posters). How much was the other expense, for ribbon (in ₹)?
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying paper cups (d) money from sales
27. 27.📒 Income or expense: printing posters? (a) income (b) expense
28. 28.📒 Income or expense: cash from selling plants? (a) income (b) expense
29. 29.Tara’s income was ₹110 and the profit was ₹90. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
30. 30.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
31. 31.True or false: “buying paper cups” is income (money in). (a) False (b) True
32. 32.📒 Income or expense: buying paper cups? (a) expense (b) income
33. 33.Kabir’s income was ₹400 and the profit was ₹380. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
34. 34.Tara’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
35. 35.Meera’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
36. 36.True or false: “payment for a cake order” is income (money in). (a) False (b) True
37. 37.Ananya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹160 (sugar)
    How much is the loss (in ₹)?
38. 38.Riya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹240 (lemons)
    How much is the loss (in ₹)?
39. 39.Saanvi’s income was ₹170 and the profit was ₹70. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
40. 40.True or false: “bus fare to the market” is income (money in). (a) True (b) False

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