Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 95 · 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.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
2. 2.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
3. 3.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
4. 4.Kabir’s income was ₹460 and the profit was ₹420. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
5. 5.True or false: “printing posters” is income (money in). (a) True (b) False
6. 6.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
8. 8.Diya’s stall took in ₹250 on Friday, ₹50 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
9. 9.Riya’s income was ₹200 and the profit was ₹80. One expense was ₹50 (transport). How much was the other expense, for lemons (in ₹)?
10. 10.Kabir’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
11. 11.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
12. 12.📒 Income or expense: cash from selling plants? (a) expense (b) income
13. 13.Ishaan’s stall took in ₹220 on Friday, ₹70 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
14. 14.Zoya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
15. 15.Vihaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) printing posters (d) paying the stall fee
18. 18.Kavya’s income was ₹130 and the profit was ₹60. One expense was ₹60 (ribbon). How much was the other expense, for paper cups (in ₹)?
19. 19.Farhan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹30 (posters)
    Expense: ₹250 (transport)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) money from sales (d) bus fare to the market
21. 21.Zoya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹140 (stall fee)
    Expense: ₹230 (paper cups)
    How much is the loss (in ₹)?
22. 22.Tara’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) cash from selling plants
24. 24.📒 Income or expense: buying paper cups? (a) income (b) expense
25. 25.Meera’s stall took in ₹50 on Friday, ₹290 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
26. 26.Aarav’s stall took in ₹80 on Friday, ₹180 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “tutoring fees received” is income (money in). (a) False (b) True
28. 28.Vihaan’s income was ₹480 and the profit was ₹170. One expense was ₹270 (sugar). How much was the other expense, for posters (in ₹)?
29. 29.Rohan’s income was ₹200 and the profit was ₹70. One expense was ₹90 (posters). How much was the other expense, for transport (in ₹)?
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) a card order paid (d) buying lemons
31. 31.📒 Income or expense: money from sales? (a) income (b) expense
32. 32.Rohan’s income was ₹380 and the profit was ₹20. One expense was ₹50 (ribbon). How much was the other expense, for card paper (in ₹)?
33. 33.Ananya’s income was ₹460 and the profit was ₹130. One expense was ₹140 (transport). How much was the other expense, for ribbon (in ₹)?
34. 34.Kavya’s income was ₹150 and the profit was ₹100. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
35. 35.Ishaan’s income was ₹340 and the profit was ₹250. One expense was ₹60 (posters). How much was the other expense, for stall fee (in ₹)?
36. 36.📒 Income or expense: bus fare to the market? (a) income (b) expense
37. 37.True or false: “money from sales” is an expense (money out). (a) False (b) True
38. 38.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
39. 39.Kavya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
40. 40.Lakshmi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?

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