Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 833 · 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.Ishaan’s record for the day:
   Income: ₹410 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹180 (card paper)
   Expense: ₹170 (lemons)
   What is the profit (in ₹)?
2. 2.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
3. 3.Aarav’s stall took in ₹50 on Friday, ₹80 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) cash from selling plants (d) money from sales
5. 5.Ananya’s income was ₹430 and the profit was ₹100. One expense was ₹260 (lemons). How much was the other expense, for sugar (in ₹)?
6. 6.Meera’s income was ₹440 and the profit was ₹20. One expense was ₹120 (sugar). How much was the other expense, for lemons (in ₹)?
7. 7.📒 Income or expense: money from sales? (a) income (b) expense
8. 8.True or false: “cash from selling plants” is income (money in). (a) True (b) False
9. 9.Zoya’s record for the day:
   Income: ₹350 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹190 (sugar)
   Expense: ₹70 (stall fee)
   What is the profit (in ₹)?
10. 10.Nisha’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹180 (paper cups)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
13. 13.Arjun’s income was ₹410 and the profit was ₹200. One expense was ₹160 (ribbon). How much was the other expense, for posters (in ₹)?
14. 14.📒 Income or expense: paying the stall fee? (a) income (b) expense
15. 15.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
16. 16.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) printing posters (d) tutoring fees received
17. 17.Meera’s income was ₹470 and the profit was ₹290. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
18. 18.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹200 (stall fee)
    How much is the loss (in ₹)?
19. 19.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
20. 20.📒 Income or expense: bus fare to the market? (a) income (b) expense
21. 21.True or false: “buying lemons” is an expense (money out). (a) False (b) True
22. 22.📒 Income or expense: a card order paid? (a) expense (b) income
23. 23.Rohan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: buying paper cups? (a) income (b) expense
25. 25.Gurpreet’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹210 (stall fee)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
26. 26.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
27. 27.True or false: “printing posters” is an expense (money out). (a) True (b) False
28. 28.Kabir’s income was ₹440 and the profit was ₹30. One expense was ₹20 (transport). How much was the other expense, for card paper (in ₹)?
29. 29.Meera’s stall took in ₹90 on Friday, ₹110 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
30. 30.Lakshmi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
31. 31.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
32. 32.Gurpreet’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹30 (transport)
    Expense: ₹220 (stall fee)
    How much is the loss (in ₹)?
33. 33.Dev’s income was ₹110 and the profit was ₹90. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
34. 34.Tara’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: buying lemons? (a) expense (b) income
36. 36.Riya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
37. 37.Gurpreet’s stall took in ₹80 on Friday, ₹80 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “money from sales” is an expense (money out). (a) False (b) True
39. 39.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) income (b) expense

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