Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 849 · 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.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) money from sales (d) payment for a cake order
2. 2.Ishaan’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹130 (sugar)
   Expense: ₹30 (transport)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: bus fare to the market? (a) expense (b) income
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) printing posters (d) a card order paid
5. 5.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
6. 6.Vihaan’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹170 (card paper)
   Expense: ₹90 (paper cups)
   What is the profit (in ₹)?
7. 7.Diya’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹160 (stall fee)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
8. 8.Farhan’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹20 (posters)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
9. 9.Arjun’s income was ₹440 and the profit was ₹60. One expense was ₹250 (paper cups). How much was the other expense, for lemons (in ₹)?
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: cash from selling plants? (a) income (b) expense
12. 12.📒 Income or expense: paying the stall fee? (a) income (b) expense
13. 13.Vihaan’s stall took in ₹150 on Friday, ₹230 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: payment for a cake order? (a) expense (b) income
15. 15.📒 Income or expense: a card order paid? (a) income (b) expense
16. 16.📒 Income or expense: printing posters? (a) income (b) expense
17. 17.Gurpreet’s stall took in ₹180 on Friday, ₹340 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “tutoring fees received” is income (money in). (a) False (b) True
19. 19.Ananya’s stall took in ₹60 on Friday, ₹130 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “paying the stall fee” is income (money in). (a) False (b) True
21. 21.Riya’s income was ₹100 and the profit was ₹80. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?
22. 22.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying lemons (d) bus fare to the market
23. 23.📒 Income or expense: buying lemons? (a) income (b) expense
24. 24.Nisha’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
25. 25.True or false: “cash from selling plants” is income (money in). (a) True (b) False
26. 26.Gurpreet’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹170 (lemons)
    How much is the loss (in ₹)?
27. 27.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
28. 28.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
29. 29.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) payment for a cake order (d) bus fare to the market
30. 30.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying lemons (d) paying the stall fee
31. 31.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) buying lemons
32. 32.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
33. 33.Arjun’s income was ₹110 and the profit was ₹90. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
34. 34.True or false: “money from sales” is an expense (money out). (a) False (b) True
35. 35.Tara’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
36. 36.Dev’s stall took in ₹360 on Friday, ₹260 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) tutoring fees received
38. 38.Aarav’s income was ₹200 and the profit was ₹90. One expense was ₹50 (stall fee). How much was the other expense, for card paper (in ₹)?
39. 39.Vihaan’s income was ₹440 and the profit was ₹390. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
40. 40.True or false: “a card order paid” is income (money in). (a) True (b) False

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