Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 981 · 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.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
2. 2.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) a card order paid (d) tutoring fees received
3. 3.Gurpreet’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹70 (paper cups)
   Expense: ₹230 (transport)
   How much is the loss (in ₹)?
4. 4.Arjun’s income was ₹250 and the profit was ₹40. One expense was ₹30 (paper cups). How much was the other expense, for posters (in ₹)?
5. 5.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) bus fare to the market (d) buying paper cups
6. 6.Joseph’s income was ₹380 and the profit was ₹190. One expense was ₹120 (lemons). How much was the other expense, for paper cups (in ₹)?
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) bus fare to the market (d) a card order paid
8. 8.📒 Income or expense: buying paper cups? (a) expense (b) income
9. 9.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
10. 10.Ishaan’s income was ₹330 and the profit was ₹60. One expense was ₹220 (transport). How much was the other expense, for posters (in ₹)?
11. 11.Saanvi’s income was ₹350 and the profit was ₹70. One expense was ₹260 (lemons). How much was the other expense, for transport (in ₹)?
12. 12.Ananya’s income was ₹110 and the profit was ₹60. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
13. 13.True or false: “printing posters” is income (money in). (a) True (b) False
14. 14.Aarav’s stall took in ₹400 on Friday, ₹350 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
15. 15.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
16. 16.📒 Income or expense: bus fare to the market? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) tutoring fees received (d) printing posters
18. 18.Ananya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
19. 19.Vihaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹150 (transport)
    How much is the loss (in ₹)?
20. 20.Farhan’s income was ₹340 and the profit was ₹140. One expense was ₹170 (ribbon). How much was the other expense, for sugar (in ₹)?
21. 21.Ishaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (transport)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
22. 22.True or false: “money from sales” is an expense (money out). (a) True (b) False
23. 23.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
24. 24.Arjun’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: printing posters? (a) expense (b) income
26. 26.Riya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
27. 27.Ananya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹120 (posters)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
28. 28.Ishaan’s stall took in ₹100 on Friday, ₹140 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
29. 29.Lakshmi’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
30. 30.Farhan’s stall took in ₹70 on Friday, ₹300 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
31. 31.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
32. 32.Meera’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
33. 33.Riya’s stall took in ₹90 on Friday, ₹250 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) printing posters (d) bus fare to the market
35. 35.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
36. 36.📒 Income or expense: cash from selling plants? (a) expense (b) income
37. 37.True or false: “payment for a cake order” is income (money in). (a) True (b) False
38. 38.Ishaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
39. 39.Saanvi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹50 (posters)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
40. 40.📒 Income or expense: money from sales? (a) expense (b) income

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