Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 837 · 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.Saanvi’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹150 (sugar)
   Expense: ₹160 (lemons)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) tutoring fees received (d) bus fare to the market
3. 3.📒 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
4. 4.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
5. 5.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
6. 6.Tara’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹140 (ribbon)
   Expense: ₹10 (posters)
   How much is the loss (in ₹)?
7. 7.Kabir’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹50 (card paper)
   Expense: ₹110 (lemons)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: buying paper cups? (a) income (b) expense
9. 9.True or false: “a card order paid” is an expense (money out). (a) True (b) False
10. 10.Nisha’s income was ₹140 and the profit was ₹60. One expense was ₹30 (card paper). How much was the other expense, for paper cups (in ₹)?
11. 11.Aarav’s income was ₹220 and the profit was ₹190. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.Gurpreet’s stall took in ₹270 on Friday, ₹230 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
14. 14.Farhan’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
15. 15.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) bus fare to the market
16. 16.Gurpreet’s stall took in ₹60 on Friday, ₹90 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) buying lemons (d) paying the stall fee
18. 18.Farhan’s stall took in ₹380 on Friday, ₹140 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “money from sales” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: payment for a cake order? (a) expense (b) income
21. 21.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
22. 22.Gurpreet’s stall took in ₹70 on Friday, ₹200 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) paying the stall fee
24. 24.Kavya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹200 (posters)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) money from sales (d) payment for a cake order
26. 26.True or false: “tutoring fees received” is income (money in). (a) True (b) False
27. 27.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) payment for a cake order
29. 29.Zoya’s stall took in ₹270 on Friday, ₹150 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: cash from selling plants? (a) income (b) expense
31. 31.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
32. 32.Kavya’s stall took in ₹140 on Friday, ₹210 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) a card order paid (d) money from sales
34. 34.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
35. 35.Nisha’s stall took in ₹200 on Friday, ₹320 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
36. 36.Lakshmi’s income was ₹330 and the profit was ₹160. One expense was ₹90 (paper cups). How much was the other expense, for sugar (in ₹)?
37. 37.📒 Income or expense: a card order paid? (a) income (b) expense
38. 38.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) a card order paid (d) bus fare to the market
39. 39.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) money from sales (d) cash from selling plants
40. 40.Dev’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?

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