Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 708 · 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.True or false: “buying lemons” is an expense (money out). (a) False (b) True
2. 2.Arjun’s income was ₹250 and the profit was ₹180. One expense was ₹50 (posters). How much was the other expense, for lemons (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
4. 4.📒 Income or expense: buying paper cups? (a) expense (b) income
5. 5.Diya’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹500 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹110 (paper cups)
   What is the profit (in ₹)?
6. 6.Kabir’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹150 (posters)
   Expense: ₹150 (sugar)
   How much is the loss (in ₹)?
7. 7.True or false: “printing posters” is an expense (money out). (a) False (b) True
8. 8.Meera’s income was ₹480 and the profit was ₹250. One expense was ₹90 (paper cups). How much was the other expense, for lemons (in ₹)?
9. 9.Kabir’s record for the day:
   Income: ₹310 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹120 (lemons)
   Expense: ₹110 (card paper)
   What is the profit (in ₹)?
10. 10.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) a card order paid (d) cash from selling plants
11. 11.Joseph’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
12. 12.Vihaan’s income was ₹490 and the profit was ₹140. One expense was ₹40 (sugar). How much was the other expense, for paper cups (in ₹)?
13. 13.Riya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) printing posters
15. 15.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
16. 16.📒 Income or expense: printing posters? (a) expense (b) income
17. 17.Joseph’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹230 (paper cups)
    How much is the loss (in ₹)?
18. 18.Meera’s income was ₹440 and the profit was ₹290. One expense was ₹40 (card paper). How much was the other expense, for stall fee (in ₹)?
19. 19.📒 Income or expense: money from sales? (a) expense (b) income
20. 20.Ishaan’s income was ₹310 and the profit was ₹200. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?
21. 21.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) money from sales (d) printing posters
22. 22.Kavya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
23. 23.Arjun’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
24. 24.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) buying lemons (d) printing posters
25. 25.📒 Income or expense: buying lemons? (a) income (b) expense
26. 26.📒 Income or expense: payment for a cake order? (a) expense (b) income
27. 27.True or false: “buying paper cups” is income (money in). (a) True (b) False
28. 28.True or false: “payment for a cake order” is income (money in). (a) True (b) False
29. 29.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) bus fare to the market (d) cash from selling plants
30. 30.True or false: “paying the stall fee” is income (money in). (a) False (b) True
31. 31.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
32. 32.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
33. 33.Dev’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
34. 34.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
35. 35.Meera’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
36. 36.Nisha’s income was ₹420 and the profit was ₹10. One expense was ₹310 (lemons). How much was the other expense, for paper cups (in ₹)?
37. 37.Zoya’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
38. 38.Dev’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
39. 39.Arjun’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
40. 40.Saanvi’s stall took in ₹260 on Friday, ₹50 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?

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