Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 807 · 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.Farhan’s income was ₹160 and the profit was ₹60. One expense was ₹20 (transport). How much was the other expense, for sugar (in ₹)?
2. 2.📒 Income or expense: printing posters? (a) income (b) expense
3. 3.📒 Income or expense: cash from selling plants? (a) income (b) expense
4. 4.Gurpreet’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹140 (paper cups)
   Expense: ₹100 (lemons)
   What is the profit (in ₹)?
5. 5.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
6. 6.📒 Income or expense: paying the stall fee? (a) income (b) expense
7. 7.Dev’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹90 (transport)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
8. 8.Gurpreet’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹50 (transport)
   Expense: ₹70 (paper cups)
   How much is the loss (in ₹)?
9. 9.True or false: “money from sales” is an expense (money out). (a) True (b) False
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) cash from selling plants (d) a card order paid
11. 11.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
12. 12.📒 Income or expense: payment for a cake order? (a) income (b) expense
13. 13.Zoya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) bus fare to the market (d) money from sales
15. 15.Kavya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
17. 17.Zoya’s stall took in ₹130 on Friday, ₹400 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: buying lemons? (a) expense (b) income
19. 19.Diya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹70 (posters)
    Expense: ₹260 (paper cups)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: buying paper cups? (a) income (b) expense
21. 21.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
22. 22.📒 Income or expense: tutoring fees received? (a) expense (b) income
23. 23.Nisha’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
24. 24.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) tutoring fees received (d) buying paper cups
26. 26.True or false: “printing posters” is income (money in). (a) True (b) False
27. 27.Diya’s stall took in ₹350 on Friday, ₹80 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
28. 28.Dev’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
29. 29.Lakshmi’s income was ₹300 and the profit was ₹100. One expense was ₹120 (lemons). How much was the other expense, for card paper (in ₹)?
30. 30.Rohan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹240 (card paper)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
31. 31.Arjun’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: a card order paid? (a) expense (b) income
33. 33.Arjun’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
34. 34.Arjun’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
35. 35.Diya’s income was ₹190 and the profit was ₹110. One expense was ₹20 (sugar). How much was the other expense, for lemons (in ₹)?
36. 36.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) money from sales
37. 37.📒 Income or expense: bus fare to the market? (a) expense (b) income
38. 38.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) paying the stall fee (d) buying lemons
39. 39.True or false: “a card order paid” is income (money in). (a) True (b) False
40. 40.Zoya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?

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