Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 984 · 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.Kabir’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹90 (transport)
   What is the profit (in ₹)?
2. 2.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
3. 3.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) money from sales (d) tutoring fees received
4. 4.Joseph’s income was ₹360 and the profit was ₹50. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
5. 5.True or false: “tutoring fees received” is income (money in). (a) True (b) False
6. 6.📒 Income or expense: buying lemons? (a) income (b) expense
7. 7.Gurpreet’s stall took in ₹170 on Friday, ₹340 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
8. 8.Riya’s record for the day:
   Income: ₹390 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹90 (stall fee)
   Expense: ₹80 (lemons)
   What is the profit (in ₹)?
9. 9.📒 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
10. 10.Gurpreet’s stall took in ₹100 on Friday, ₹320 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) tutoring fees received
12. 12.Dev’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: printing posters? (a) income (b) expense
14. 14.Meera’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
15. 15.📒 Income or expense: paying the stall fee? (a) expense (b) income
16. 16.Rohan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: money from sales? (a) income (b) expense
18. 18.📒 Income or expense: payment for a cake order? (a) income (b) expense
19. 19.Meera’s income was ₹210 and the profit was ₹140. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
20. 20.Kabir’s income was ₹360 and the profit was ₹100. One expense was ₹250 (card paper). How much was the other expense, for stall fee (in ₹)?
21. 21.Ishaan’s stall took in ₹400 on Friday, ₹310 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) money from sales
23. 23.Rohan’s stall took in ₹250 on Friday, ₹50 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: cash from selling plants? (a) expense (b) income
25. 25.Lakshmi’s income was ₹270 and the profit was ₹70. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) cash from selling plants (d) printing posters
27. 27.Kavya’s income was ₹280 and the profit was ₹190. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
28. 28.Vihaan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
29. 29.Kabir’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
30. 30.Tara’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
31. 31.True or false: “buying paper cups” is income (money in). (a) True (b) False
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) bus fare to the market
33. 33.📒 Income or expense: a card order paid? (a) expense (b) income
34. 34.Ananya’s income was ₹370 and the profit was ₹60. One expense was ₹180 (sugar). How much was the other expense, for ribbon (in ₹)?
35. 35.True or false: “printing posters” is income (money in). (a) True (b) False
36. 36.Tara’s stall took in ₹170 on Friday, ₹50 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
37. 37.Meera’s income was ₹460 and the profit was ₹60. One expense was ₹350 (lemons). How much was the other expense, for stall fee (in ₹)?
38. 38.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
39. 39.Lakshmi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹240 (card paper)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
40. 40.Kavya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?

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