Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 733 · 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.📒 Income or expense: buying paper cups? (a) income (b) expense
2. 2.Meera’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹200 (paper cups)
   Expense: ₹130 (lemons)
   How much is the loss (in ₹)?
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) printing posters (d) payment for a cake order
4. 4.Kabir’s income was ₹380 and the profit was ₹300. One expense was ₹20 (sugar). How much was the other expense, for card paper (in ₹)?
5. 5.True or false: “payment for a cake order” is income (money in). (a) True (b) False
6. 6.Lakshmi’s income was ₹110 and the profit was ₹80. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
7. 7.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
8. 8.Vihaan’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹30 (stall fee)
   Expense: ₹60 (card paper)
   What is the profit (in ₹)?
9. 9.True or false: “money from sales” is income (money in). (a) False (b) True
10. 10.📒 Income or expense: cash from selling plants? (a) income (b) expense
11. 11.Zoya’s stall took in ₹370 on Friday, ₹380 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
12. 12.Nisha’s stall took in ₹170 on Friday, ₹170 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
13. 13.Lakshmi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹260 (transport)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
15. 15.Vihaan’s income was ₹470 and the profit was ₹280. One expense was ₹60 (lemons). How much was the other expense, for transport (in ₹)?
16. 16.Arjun’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
17. 17.Gurpreet’s income was ₹410 and the profit was ₹190. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
18. 18.Ananya’s stall took in ₹200 on Friday, ₹340 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: tutoring fees received? (a) expense (b) income
20. 20.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
21. 21.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) buying lemons
22. 22.📒 Income or expense: paying the stall fee? (a) expense (b) income
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) bus fare to the market (d) money from sales
24. 24.Kavya’s income was ₹410 and the profit was ₹210. One expense was ₹20 (posters). How much was the other expense, for paper cups (in ₹)?
25. 25.True or false: “printing posters” is income (money in). (a) True (b) False
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) money from sales (d) a card order paid
27. 27.Farhan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
28. 28.Meera’s income was ₹250 and the profit was ₹140. One expense was ₹30 (stall fee). How much was the other expense, for sugar (in ₹)?
29. 29.Riya’s income was ₹210 and the profit was ₹180. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
30. 30.Ishaan’s income was ₹490 and the profit was ₹310. One expense was ₹90 (stall fee). How much was the other expense, for paper cups (in ₹)?
31. 31.Aarav’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.📒 Income or expense: bus fare to the market? (a) income (b) expense
34. 34.Kavya’s stall took in ₹310 on Friday, ₹210 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) cash from selling plants (d) payment for a cake order
36. 36.Kavya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
37. 37.Diya’s income was ₹190 and the profit was ₹160. One expense was ₹20 (paper cups). How much was the other expense, for posters (in ₹)?
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
39. 39.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) cash from selling plants
40. 40.True or false: “paying the stall fee” is income (money in). (a) True (b) False

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