Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 801 · 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) income + expenses (b) just the income (c) expenses − income (d) income − expenses
2. 2.Arjun’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹550 (evening sales)
   Expense: ₹130 (posters)
   Expense: ₹170 (card paper)
   What is the profit (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
4. 4.Riya’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹320 (paper cups)
   Expense: ₹10 (posters)
   How much is the loss (in ₹)?
5. 5.Rohan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹30 (ribbon)
   Expense: ₹40 (paper cups)
   What is the profit (in ₹)?
6. 6.Nisha’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹120 (card paper)
   What is the profit (in ₹)?
7. 7.Rohan’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹60 (card paper)
   Expense: ₹80 (lemons)
   What is the profit (in ₹)?
8. 8.Saanvi’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹150 (ribbon)
   Expense: ₹190 (paper cups)
   What is the profit (in ₹)?
9. 9.Saanvi’s income was ₹160 and the profit was ₹140. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
10. 10.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) buying paper cups
11. 11.True or false: “cash from selling plants” is income (money in). (a) True (b) False
12. 12.Rohan’s stall took in ₹120 on Friday, ₹190 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “printing posters” is an expense (money out). (a) True (b) False
14. 14.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) payment for a cake order (d) tutoring fees received
15. 15.📒 Income or expense: printing posters? (a) expense (b) income
16. 16.Lakshmi’s income was ₹500 and the profit was ₹160. One expense was ₹260 (ribbon). How much was the other expense, for stall fee (in ₹)?
17. 17.📒 Income or expense: buying paper cups? (a) income (b) expense
18. 18.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
19. 19.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
20. 20.Nisha’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) money from sales (d) bus fare to the market
22. 22.Meera’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) money from sales (d) paying the stall fee
24. 24.Nisha’s income was ₹110 and the profit was ₹20. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
25. 25.Zoya’s income was ₹470 and the profit was ₹320. One expense was ₹20 (posters). How much was the other expense, for card paper (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
27. 27.Arjun’s record for the day:
    Income: ₹470 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
28. 28.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
29. 29.True or false: “buying lemons” is income (money in). (a) True (b) False
30. 30.Kavya’s stall took in ₹140 on Friday, ₹390 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: cash from selling plants? (a) expense (b) income
32. 32.Arjun’s income was ₹460 and the profit was ₹40. One expense was ₹100 (posters). How much was the other expense, for ribbon (in ₹)?
33. 33.Rohan’s stall took in ₹90 on Friday, ₹120 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
34. 34.📒 Income or expense: money from sales? (a) income (b) expense
35. 35.True or false: “money from sales” is income (money in). (a) False (b) True
36. 36.📒 Income or expense: buying lemons? (a) income (b) expense
37. 37.📒 Income or expense: paying the stall fee? (a) income (b) expense
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) tutoring fees received (d) buying lemons
39. 39.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) income (b) expense

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