Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 696 · 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.Vihaan’s income was ₹300 and the profit was ₹50. One expense was ₹110 (posters). How much was the other expense, for transport (in ₹)?
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) printing posters (d) bus fare to the market
3. 3.Gurpreet’s income was ₹100 and the profit was ₹70. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
4. 4.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.True or false: “buying paper cups” is income (money in). (a) False (b) True
7. 7.Arjun’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
9. 9.📒 Income or expense: payment for a cake order? (a) income (b) expense
10. 10.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
11. 11.Arjun’s income was ₹370 and the profit was ₹320. One expense was ₹30 (stall fee). How much was the other expense, for card paper (in ₹)?
12. 12.Kavya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
13. 13.Gurpreet’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
14. 14.Arjun’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
15. 15.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
16. 16.📒 Income or expense: money from sales? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying paper cups (d) paying the stall fee
18. 18.Arjun’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
19. 19.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
20. 20.📒 Income or expense: paying the stall fee? (a) income (b) expense
21. 21.Joseph’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
22. 22.True or false: “cash from selling plants” is income (money in). (a) True (b) False
23. 23.Rohan’s income was ₹390 and the profit was ₹230. One expense was ₹60 (lemons). How much was the other expense, for ribbon (in ₹)?
24. 24.Lakshmi’s income was ₹110 and the profit was ₹30. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
25. 25.True or false: “buying lemons” is an expense (money out). (a) False (b) True
26. 26.True or false: “payment for a cake order” is income (money in). (a) False (b) True
27. 27.📒 Income or expense: buying paper cups? (a) income (b) expense
28. 28.Saanvi’s stall took in ₹350 on Friday, ₹190 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
29. 29.Meera’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹200 (ribbon)
    Expense: ₹100 (stall fee)
    How much is the loss (in ₹)?
30. 30.Zoya’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
31. 31.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
32. 32.Ishaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
33. 33.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) buying lemons
34. 34.📒 Income or expense: a card order paid? (a) expense (b) income
35. 35.Lakshmi’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹310 (card paper)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
36. 36.Kabir’s stall took in ₹140 on Friday, ₹350 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
37. 37.Rohan’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
38. 38.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
39. 39.Rohan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
40. 40.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) cash from selling plants (d) payment for a cake order

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