Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 694 · 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.Arjun’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹100 (sugar)
   Expense: ₹180 (posters)
   What is the profit (in ₹)?
2. 2.True or false: “buying lemons” is income (money in). (a) False (b) True
3. 3.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
4. 4.📒 Income or expense: paying the stall fee? (a) expense (b) income
5. 5.True or false: “a card order paid” is an expense (money out). (a) False (b) True
6. 6.📒 Income or expense: printing posters? (a) expense (b) income
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
8. 8.Diya’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹80 (paper cups)
   Expense: ₹200 (transport)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) printing posters (d) buying lemons
10. 10.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
11. 11.True or false: “paying the stall fee” is income (money in). (a) False (b) True
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.Lakshmi’s stall took in ₹60 on Friday, ₹310 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
15. 15.Ananya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
16. 16.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
17. 17.📒 Income or expense: buying paper cups? (a) expense (b) income
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.📒 Income or expense: money from sales? (a) income (b) expense
20. 20.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) money from sales (d) printing posters
21. 21.Dev’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
22. 22.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹190 (posters)
    How much is the loss (in ₹)?
23. 23.Saanvi’s income was ₹110 and the profit was ₹70. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
24. 24.Ananya’s income was ₹350 and the profit was ₹180. One expense was ₹40 (sugar). How much was the other expense, for stall fee (in ₹)?
25. 25.Vihaan’s stall took in ₹180 on Friday, ₹310 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) buying lemons
27. 27.Kabir’s income was ₹190 and the profit was ₹10. One expense was ₹80 (transport). How much was the other expense, for ribbon (in ₹)?
28. 28.Farhan’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
29. 29.True or false: “money from sales” is income (money in). (a) True (b) False
30. 30.True or false: “cash from selling plants” is income (money in). (a) False (b) True
31. 31.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
32. 32.Meera’s stall took in ₹250 on Friday, ₹330 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: bus fare to the market? (a) expense (b) income
34. 34.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
35. 35.Arjun’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
36. 36.Riya’s income was ₹130 and the profit was ₹70. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
37. 37.Rohan’s income was ₹390 and the profit was ₹350. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
38. 38.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) payment for a cake order (d) buying paper cups
39. 39.Gurpreet’s stall took in ₹390 on Friday, ₹280 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) printing posters (d) cash from selling plants

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