Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 998 · 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) income + expenses (b) just the income (c) income − expenses (d) expenses − income
2. 2.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) a card order paid (d) buying paper cups
3. 3.Joseph’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹90 (posters)
   Expense: ₹120 (ribbon)
   How much is the loss (in ₹)?
4. 4.📒 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
5. 5.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
6. 6.Vihaan’s income was ₹250 and the profit was ₹150. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
7. 7.Dev’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹150 (posters)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
8. 8.Ananya’s income was ₹110 and the profit was ₹10. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
9. 9.Saanvi’s income was ₹280 and the profit was ₹150. One expense was ₹30 (transport). How much was the other expense, for lemons (in ₹)?
10. 10.Aarav’s income was ₹380 and the profit was ₹10. One expense was ₹30 (transport). How much was the other expense, for stall fee (in ₹)?
11. 11.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) bus fare to the market (d) paying the stall fee
12. 12.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) printing posters (d) bus fare to the market
13. 13.📒 Income or expense: money from sales? (a) expense (b) income
14. 14.Vihaan’s income was ₹470 and the profit was ₹140. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
15. 15.Ananya’s income was ₹270 and the profit was ₹220. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
16. 16.Vihaan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹230 (stall fee)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.Ananya’s income was ₹140 and the profit was ₹100. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
19. 19.Kabir’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
20. 20.Ananya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
21. 21.True or false: “money from sales” is an expense (money out). (a) False (b) True
22. 22.📒 Income or expense: printing posters? (a) income (b) expense
23. 23.Lakshmi’s income was ₹320 and the profit was ₹50. One expense was ₹190 (ribbon). How much was the other expense, for paper cups (in ₹)?
24. 24.📒 Income or expense: paying the stall fee? (a) expense (b) income
25. 25.Dev’s stall took in ₹380 on Friday, ₹260 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
26. 26.Kabir’s stall took in ₹160 on Friday, ₹120 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
28. 28.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying paper cups (d) printing posters
29. 29.True or false: “payment for a cake order” is income (money in). (a) True (b) False
30. 30.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) paying the stall fee
31. 31.Vihaan’s stall took in ₹130 on Friday, ₹140 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) tutoring fees received (d) money from sales
33. 33.Rohan’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
34. 34.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
35. 35.Riya’s income was ₹420 and the profit was ₹220. One expense was ₹60 (stall fee). How much was the other expense, for lemons (in ₹)?
36. 36.Kabir’s stall took in ₹190 on Friday, ₹230 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
37. 37.Meera’s stall took in ₹180 on Friday, ₹150 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
38. 38.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
39. 39.True or false: “a card order paid” is income (money in). (a) False (b) True
40. 40.Vihaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹210 (transport)
    How much is the loss (in ₹)?

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