Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 931 · 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.Meera’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹290 (sugar)
   Expense: ₹10 (ribbon)
   How much is the loss (in ₹)?
2. 2.True or false: “printing posters” is an expense (money out). (a) False (b) True
3. 3.True or false: “printing posters” is income (money in). (a) True (b) False
4. 4.Ishaan’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹140 (paper cups)
   Expense: ₹200 (ribbon)
   What is the profit (in ₹)?
5. 5.Farhan’s income was ₹400 and the profit was ₹350. One expense was ₹40 (lemons). How much was the other expense, for posters (in ₹)?
6. 6.📒 Income or expense: buying lemons? (a) expense (b) income
7. 7.Saanvi’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹290 (card paper)
   Expense: ₹10 (ribbon)
   How much is the loss (in ₹)?
8. 8.Rohan’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹100 (paper cups)
   Expense: ₹160 (lemons)
   What is the profit (in ₹)?
9. 9.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
10. 10.True or false: “bus fare to the market” is income (money in). (a) False (b) True
11. 11.Saanvi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹280 (posters)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
12. 12.Farhan’s stall took in ₹350 on Friday, ₹240 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) income (b) expense
14. 14.Gurpreet’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
15. 15.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
16. 16.Tara’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
17. 17.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
18. 18.Rohan’s income was ₹200 and the profit was ₹30. One expense was ₹120 (transport). How much was the other expense, for card paper (in ₹)?
19. 19.📒 Income or expense: money from sales? (a) expense (b) income
20. 20.True or false: “payment for a cake order” is income (money in). (a) False (b) True
21. 21.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) payment for a cake order
22. 22.True or false: “a card order paid” is income (money in). (a) True (b) False
23. 23.📒 Income or expense: payment for a cake order? (a) income (b) expense
24. 24.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) cash from selling plants (d) a card order paid
25. 25.Dev’s stall took in ₹130 on Friday, ₹260 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
26. 26.Aarav’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹240 (posters)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: bus fare to the market? (a) expense (b) income
28. 28.📒 Income or expense: printing posters? (a) expense (b) income
29. 29.📒 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
30. 30.Tara’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
31. 31.Gurpreet’s stall took in ₹140 on Friday, ₹120 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) bus fare to the market (d) tutoring fees received
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) a card order paid (d) money from sales
34. 34.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
35. 35.Kavya’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: paying the stall fee? (a) income (b) expense
37. 37.📒 Income or expense: a card order paid? (a) income (b) expense
38. 38.Kabir’s income was ₹180 and the profit was ₹140. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
39. 39.Saanvi’s income was ₹110 and the profit was ₹40. One expense was ₹60 (lemons). How much was the other expense, for posters (in ₹)?
40. 40.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False

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