Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 860 · 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.Tara’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹100 (paper cups)
   Expense: ₹60 (card paper)
   What is the profit (in ₹)?
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.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
4. 4.True or false: “a card order paid” is income (money in). (a) True (b) False
5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) tutoring fees received
7. 7.Kabir’s income was ₹350 and the profit was ₹230. One expense was ₹50 (ribbon). How much was the other expense, for lemons (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.📒 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
11. 11.📒 Income or expense: paying the stall fee? (a) expense (b) income
12. 12.Kabir’s income was ₹210 and the profit was ₹50. One expense was ₹120 (paper cups). How much was the other expense, for card paper (in ₹)?
13. 13.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) cash from selling plants
14. 14.Kavya’s stall took in ₹230 on Friday, ₹50 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
15. 15.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
16. 16.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
17. 17.Riya’s income was ₹330 and the profit was ₹130. One expense was ₹50 (sugar). How much was the other expense, for paper cups (in ₹)?
18. 18.Ishaan’s record for the day:
    Income: ₹640 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
19. 19.True or false: “money from sales” is an expense (money out). (a) True (b) False
20. 20.True or false: “cash from selling plants” is income (money in). (a) True (b) False
21. 21.📒 Income or expense: cash from selling plants? (a) income (b) expense
22. 22.📒 Income or expense: bus fare to the market? (a) expense (b) income
23. 23.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) payment for a cake order (d) paying the stall fee
24. 24.Joseph’s stall took in ₹160 on Friday, ₹320 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) buying lemons
26. 26.True or false: “a card order paid” is an expense (money out). (a) False (b) True
27. 27.Gurpreet’s stall took in ₹160 on Friday, ₹120 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “bus fare to the market” is income (money in). (a) False (b) True
29. 29.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) a card order paid
30. 30.Ananya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹280 (sugar)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
31. 31.Joseph’s income was ₹500 and the profit was ₹360. One expense was ₹30 (posters). How much was the other expense, for transport (in ₹)?
32. 32.Dev’s income was ₹140 and the profit was ₹80. One expense was ₹10 (paper cups). How much was the other expense, for sugar (in ₹)?
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) printing posters
34. 34.Farhan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹230 (stall fee)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
35. 35.Gurpreet’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹200 (posters)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
36. 36.Diya’s income was ₹150 and the profit was ₹30. One expense was ₹50 (paper cups). How much was the other expense, for card paper (in ₹)?
37. 37.Gurpreet’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
38. 38.Joseph’s income was ₹360 and the profit was ₹320. One expense was ₹30 (sugar). How much was the other expense, for ribbon (in ₹)?
39. 39.📒 Income or expense: printing posters? (a) expense (b) income
40. 40.Saanvi’s income was ₹160 and the profit was ₹40. One expense was ₹50 (paper cups). How much was the other expense, for posters (in ₹)?

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