Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 846 · 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: ₹30 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹170 (ribbon)
   Expense: ₹70 (card paper)
   What is the profit (in ₹)?
2. 2.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
3. 3.Joseph’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹10 (lemons)
   Expense: ₹220 (paper cups)
   How much is the loss (in ₹)?
4. 4.Meera’s income was ₹500 and the profit was ₹340. One expense was ₹30 (card paper). How much was the other expense, for stall fee (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
7. 7.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
8. 8.Kabir’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹10 (card paper)
   Expense: ₹110 (paper cups)
   How much is the loss (in ₹)?
9. 9.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
10. 10.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) paying the stall fee
11. 11.True or false: “a card order paid” is income (money in). (a) False (b) True
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) a card order paid (d) paying the stall fee
13. 13.📒 Income or expense: tutoring fees received? (a) income (b) expense
14. 14.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying paper cups (d) buying lemons
15. 15.Zoya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
16. 16.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
17. 17.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) buying paper cups
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.📒 Income or expense: bus fare to the market? (a) expense (b) income
20. 20.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying lemons (d) tutoring fees received
21. 21.Kabir’s income was ₹110 and the profit was ₹90. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
22. 22.📒 Income or expense: buying paper cups? (a) income (b) expense
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.Farhan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: payment for a cake order? (a) expense (b) income
26. 26.Rohan’s income was ₹480 and the profit was ₹420. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
27. 27.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
28. 28.📒 Income or expense: a card order paid? (a) income (b) expense
29. 29.Nisha’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
30. 30.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
31. 31.Joseph’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹230 (lemons)
    How much is the loss (in ₹)?
32. 32.Gurpreet’s stall took in ₹370 on Friday, ₹340 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
33. 33.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹130 (transport)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
34. 34.True or false: “cash from selling plants” is income (money in). (a) False (b) True
35. 35.Vihaan’s income was ₹390 and the profit was ₹30. One expense was ₹170 (paper cups). How much was the other expense, for card paper (in ₹)?
36. 36.Ananya’s income was ₹190 and the profit was ₹100. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
37. 37.True or false: “a card order paid” is an expense (money out). (a) False (b) True
38. 38.Kabir’s stall took in ₹330 on Friday, ₹290 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
39. 39.Dev’s stall took in ₹170 on Friday, ₹150 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
40. 40.Tara’s stall took in ₹130 on Friday, ₹60 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?

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