Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 761 · 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.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
2. 2.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
3. 3.Dev’s income was ₹490 and the profit was ₹270. One expense was ₹50 (transport). How much was the other expense, for lemons (in ₹)?
4. 4.Ishaan’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹110 (transport)
   Expense: ₹40 (ribbon)
   How much is the loss (in ₹)?
5. 5.Rohan’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹130 (stall fee)
   Expense: ₹30 (paper cups)
   What is the profit (in ₹)?
6. 6.Saanvi’s income was ₹200 and the profit was ₹160. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
7. 7.True or false: “printing posters” is an expense (money out). (a) True (b) False
8. 8.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
9. 9.📒 Income or expense: paying the stall fee? (a) expense (b) income
10. 10.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
11. 11.Ishaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹190 (transport)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: buying lemons? (a) income (b) expense
13. 13.Ishaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
14. 14.Lakshmi’s stall took in ₹290 on Friday, ₹80 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
15. 15.Vihaan’s stall took in ₹310 on Friday, ₹50 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
16. 16.Tara’s income was ₹110 and the profit was ₹70. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
17. 17.Joseph’s income was ₹180 and the profit was ₹70. One expense was ₹40 (paper cups). How much was the other expense, for stall fee (in ₹)?
18. 18.Farhan’s income was ₹130 and the profit was ₹90. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
19. 19.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) bus fare to the market (d) paying the stall fee
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying lemons (d) printing posters
21. 21.Farhan’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
22. 22.Nisha’s income was ₹380 and the profit was ₹240. One expense was ₹100 (card paper). How much was the other expense, for paper cups (in ₹)?
23. 23.Farhan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
24. 24.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) printing posters (d) payment for a cake order
25. 25.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) paying the stall fee (d) money from sales
26. 26.📒 Income or expense: buying paper cups? (a) income (b) expense
27. 27.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
28. 28.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹180 (paper cups)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
29. 29.Vihaan’s income was ₹170 and the profit was ₹20. One expense was ₹60 (sugar). How much was the other expense, for card paper (in ₹)?
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
31. 31.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) buying lemons
32. 32.Lakshmi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
33. 33.Dev’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
34. 34.Dev’s stall took in ₹230 on Friday, ₹210 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “a card order paid” is income (money in). (a) False (b) True
36. 36.Dev’s income was ₹400 and the profit was ₹120. One expense was ₹100 (paper cups). How much was the other expense, for sugar (in ₹)?
37. 37.Zoya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
38. 38.Kavya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
39. 39.True or false: “money from sales” is an expense (money out). (a) True (b) False
40. 40.Aarav’s stall took in ₹270 on Friday, ₹80 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?

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