Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 949 · 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) a card order paid (b) cash from selling plants (c) tutoring fees received (d) buying lemons
2. 2.Zoya’s income was ₹460 and the profit was ₹280. One expense was ₹30 (paper cups). How much was the other expense, for card paper (in ₹)?
3. 3.Kabir’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹50 (lemons)
   Expense: ₹80 (paper cups)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
6. 6.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
7. 7.Nisha’s stall took in ₹230 on Friday, ₹120 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) buying paper cups
9. 9.📒 Income or expense: buying paper cups? (a) income (b) expense
10. 10.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
11. 11.Kavya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
12. 12.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
13. 13.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) money from sales (d) payment for a cake order
14. 14.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) cash from selling plants
15. 15.📒 Income or expense: cash from selling plants? (a) income (b) expense
16. 16.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹100 (transport)
    Expense: ₹250 (card paper)
    How much is the loss (in ₹)?
17. 17.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying paper cups (d) buying lemons
18. 18.Diya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
19. 19.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
20. 20.Arjun’s income was ₹370 and the profit was ₹10. One expense was ₹100 (stall fee). How much was the other expense, for sugar (in ₹)?
21. 21.True or false: “printing posters” is an expense (money out). (a) True (b) False
22. 22.Gurpreet’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: tutoring fees received? (a) expense (b) income
24. 24.Vihaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
25. 25.Riya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
26. 26.Meera’s stall took in ₹130 on Friday, ₹200 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “payment for a cake order” is income (money in). (a) True (b) False
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) a card order paid
29. 29.Aarav’s stall took in ₹350 on Friday, ₹290 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
30. 30.Joseph’s income was ₹320 and the profit was ₹30. One expense was ₹110 (lemons). How much was the other expense, for stall fee (in ₹)?
31. 31.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
32. 32.Ananya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
33. 33.Meera’s stall took in ₹370 on Friday, ₹160 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “buying paper cups” is income (money in). (a) True (b) False
35. 35.Meera’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
36. 36.Ishaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
37. 37.True or false: “a card order paid” is income (money in). (a) False (b) True
38. 38.Diya’s income was ₹360 and the profit was ₹290. One expense was ₹20 (ribbon). How much was the other expense, for posters (in ₹)?
39. 39.Arjun’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
40. 40.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?

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