Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 994 · 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.📒 Income or expense: paying the stall fee? (a) income (b) expense
2. 2.Gurpreet’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹20 (transport)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
3. 3.True or false: “cash from selling plants” is income (money in). (a) True (b) False
4. 4.Farhan’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹200 (posters)
   Expense: ₹140 (card paper)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: buying paper cups? (a) expense (b) income
6. 6.Ishaan’s income was ₹210 and the profit was ₹90. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
7. 7.Aarav’s stall took in ₹190 on Friday, ₹220 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: a card order paid? (a) expense (b) income
9. 9.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) buying lemons (d) tutoring fees received
10. 10.📒 Income or expense: money from sales? (a) expense (b) income
11. 11.Gurpreet’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
12. 12.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
13. 13.Riya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
14. 14.True or false: “money from sales” is income (money in). (a) False (b) True
15. 15.True or false: “money from sales” is an expense (money out). (a) False (b) True
16. 16.Riya’s stall took in ₹170 on Friday, ₹270 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
17. 17.Gurpreet’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
18. 18.Gurpreet’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
19. 19.Lakshmi’s income was ₹340 and the profit was ₹20. One expense was ₹280 (card paper). How much was the other expense, for ribbon (in ₹)?
20. 20.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
21. 21.Saanvi’s income was ₹130 and the profit was ₹80. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) cash from selling plants
23. 23.📒 Income or expense: buying lemons? (a) income (b) expense
24. 24.Nisha’s income was ₹450 and the profit was ₹400. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
25. 25.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
26. 26.📒 Income or expense: cash from selling plants? (a) income (b) expense
27. 27.📒 Income or expense: printing posters? (a) expense (b) income
28. 28.Gurpreet’s stall took in ₹370 on Friday, ₹120 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
29. 29.Nisha’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: bus fare to the market? (a) income (b) expense
31. 31.True or false: “buying lemons” is an expense (money out). (a) False (b) True
32. 32.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) money from sales (d) paying the stall fee
33. 33.Saanvi’s income was ₹270 and the profit was ₹190. One expense was ₹20 (posters). How much was the other expense, for lemons (in ₹)?
34. 34.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) cash from selling plants
35. 35.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
36. 36.True or false: “bus fare to the market” is income (money in). (a) False (b) True
37. 37.True or false: “tutoring fees received” is income (money in). (a) True (b) False
38. 38.Meera’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) bus fare to the market (d) money from sales
40. 40.Ananya’s income was ₹440 and the profit was ₹260. One expense was ₹110 (paper cups). How much was the other expense, for ribbon (in ₹)?

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