Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 812 · 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.Arjun’s income was ₹450 and the profit was ₹180. One expense was ₹200 (posters). How much was the other expense, for card paper (in ₹)?
2. 2.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
3. 3.Lakshmi’s stall took in ₹320 on Friday, ₹210 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) paying the stall fee (d) buying paper cups
5. 5.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
6. 6.📒 Income or expense: a card order paid? (a) income (b) expense
7. 7.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) cash from selling plants
8. 8.True or false: “buying lemons” is income (money in). (a) True (b) False
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.Gurpreet’s income was ₹500 and the profit was ₹430. One expense was ₹50 (paper cups). How much was the other expense, for transport (in ₹)?
11. 11.Kavya’s stall took in ₹230 on Friday, ₹180 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
12. 12.Meera’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) income (b) expense
14. 14.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying paper cups (d) payment for a cake order
15. 15.True or false: “bus fare to the market” is income (money in). (a) False (b) True
16. 16.Kabir’s income was ₹180 and the profit was ₹70. One expense was ₹20 (transport). How much was the other expense, for ribbon (in ₹)?
17. 17.Riya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
18. 18.True or false: “money from sales” is income (money in). (a) True (b) False
19. 19.Vihaan’s stall took in ₹90 on Friday, ₹360 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
20. 20.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
21. 21.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
22. 22.Nisha’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹160 (sugar)
    How much is the loss (in ₹)?
23. 23.Ananya’s stall took in ₹330 on Friday, ₹270 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: paying the stall fee? (a) expense (b) income
25. 25.Gurpreet’s stall took in ₹160 on Friday, ₹280 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
26. 26.Ishaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹190 (lemons)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
27. 27.Diya’s income was ₹330 and the profit was ₹10. One expense was ₹290 (stall fee). How much was the other expense, for card paper (in ₹)?
28. 28.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) money from sales (d) tutoring fees received
29. 29.Tara’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (transport)
    How much is the loss (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) money from sales (b) printing posters (c) cash from selling plants (d) payment for a cake order
32. 32.True or false: “printing posters” is an expense (money out). (a) True (b) False
33. 33.📒 Income or expense: buying lemons? (a) expense (b) income
34. 34.Farhan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
35. 35.Dev’s income was ₹210 and the profit was ₹110. One expense was ₹40 (sugar). How much was the other expense, for transport (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
37. 37.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
38. 38.True or false: “tutoring fees received” is income (money in). (a) False (b) True
39. 39.True or false: “paying the stall fee” is income (money in). (a) True (b) False
40. 40.Farhan’s income was ₹460 and the profit was ₹80. One expense was ₹120 (transport). How much was the other expense, for stall fee (in ₹)?

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