Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 852 · 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.📒 Income or expense: buying paper cups? (a) expense (b) income
2. 2.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
3. 3.Meera’s income was ₹280 and the profit was ₹200. One expense was ₹20 (transport). How much was the other expense, for paper cups (in ₹)?
4. 4.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
5. 5.Ananya’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹90 (paper cups)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
6. 6.Nisha’s income was ₹370 and the profit was ₹50. One expense was ₹30 (ribbon). How much was the other expense, for lemons (in ₹)?
7. 7.Lakshmi’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹220 (lemons)
   Expense: ₹20 (card paper)
   How much is the loss (in ₹)?
8. 8.Ananya’s income was ₹200 and the profit was ₹40. One expense was ₹70 (posters). How much was the other expense, for card paper (in ₹)?
9. 9.True or false: “tutoring fees received” is income (money in). (a) False (b) True
10. 10.Nisha’s stall took in ₹310 on Friday, ₹340 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
11. 11.📒 Income or expense: tutoring fees received? (a) income (b) expense
12. 12.Dev’s income was ₹480 and the profit was ₹230. One expense was ₹220 (sugar). How much was the other expense, for lemons (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
14. 14.True or false: “money from sales” is an expense (money out). (a) False (b) True
15. 15.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
16. 16.Joseph’s income was ₹240 and the profit was ₹170. One expense was ₹30 (posters). How much was the other expense, for lemons (in ₹)?
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) a card order paid
18. 18.Aarav’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
19. 19.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
20. 20.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) bus fare to the market (d) money from sales
21. 21.Farhan’s income was ₹250 and the profit was ₹200. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
22. 22.Farhan’s stall took in ₹290 on Friday, ₹380 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
23. 23.Zoya’s income was ₹250 and the profit was ₹50. One expense was ₹140 (card paper). How much was the other expense, for posters (in ₹)?
24. 24.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
25. 25.Dev’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: money from sales? (a) expense (b) income
27. 27.Gurpreet’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) money from sales (d) tutoring fees received
29. 29.Farhan’s stall took in ₹60 on Friday, ₹170 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
30. 30.Arjun’s income was ₹220 and the profit was ₹170. One expense was ₹40 (ribbon). How much was the other expense, for stall fee (in ₹)?
31. 31.Rohan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
32. 32.Vihaan’s income was ₹200 and the profit was ₹160. One expense was ₹10 (card paper). How much was the other expense, for transport (in ₹)?
33. 33.Dev’s income was ₹360 and the profit was ₹160. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
34. 34.Kabir’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) expense (b) income
36. 36.📒 Income or expense: buying lemons? (a) income (b) expense
37. 37.Joseph’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
38. 38.Meera’s stall took in ₹70 on Friday, ₹240 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
40. 40.Rohan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹50 (transport)
    Expense: ₹200 (paper cups)
    How much is the loss (in ₹)?

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