Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 138 · 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.Gurpreet’s income was ₹360 and the profit was ₹270. One expense was ₹30 (ribbon). How much was the other expense, for sugar (in ₹)?
2. 2.True or false: “money from sales” is an expense (money out). (a) True (b) False
3. 3.Nisha’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹100 (stall fee)
   Expense: ₹20 (sugar)
   How much is the loss (in ₹)?
4. 4.Rohan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹480 (evening sales)
   Expense: ₹160 (posters)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
5. 5.Kabir’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹70 (sugar)
   Expense: ₹110 (posters)
   What is the profit (in ₹)?
6. 6.Ananya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹110 (posters)
   Expense: ₹60 (stall fee)
   How much is the loss (in ₹)?
7. 7.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) printing posters (d) bus fare to the market
9. 9.Joseph’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹60 (ribbon)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
10. 10.True or false: “printing posters” is income (money in). (a) False (b) True
11. 11.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
12. 12.Nisha’s stall took in ₹60 on Friday, ₹140 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “a card order paid” is an expense (money out). (a) True (b) False
14. 14.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹540 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
15. 15.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
16. 16.📒 Income or expense: cash from selling plants? (a) expense (b) income
17. 17.True or false: “tutoring fees received” is income (money in). (a) True (b) False
18. 18.📒 Income or expense: paying the stall fee? (a) income (b) expense
19. 19.Farhan’s income was ₹460 and the profit was ₹170. One expense was ₹120 (paper cups). How much was the other expense, for ribbon (in ₹)?
20. 20.Aarav’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹60 (transport)
    Expense: ₹210 (sugar)
    How much is the loss (in ₹)?
21. 21.Aarav’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
22. 22.Farhan’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.Aarav’s income was ₹280 and the profit was ₹100. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
25. 25.📒 Income or expense: tutoring fees received? (a) income (b) expense
26. 26.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
27. 27.Rohan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
28. 28.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) cash from selling plants (d) money from sales
29. 29.True or false: “printing posters” is an expense (money out). (a) False (b) True
30. 30.Gurpreet’s stall took in ₹70 on Friday, ₹400 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Rohan’s stall took in ₹50 on Friday, ₹50 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
32. 32.Arjun’s income was ₹380 and the profit was ₹340. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
33. 33.Diya’s stall took in ₹140 on Friday, ₹70 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “cash from selling plants” is income (money in). (a) False (b) True
35. 35.Zoya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹250 (ribbon)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
36. 36.Lakshmi’s stall took in ₹340 on Friday, ₹280 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying paper cups (d) printing posters
38. 38.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
39. 39.Kavya’s income was ₹110 and the profit was ₹40. One expense was ₹40 (transport). How much was the other expense, for lemons (in ₹)?
40. 40.Farhan’s stall took in ₹70 on Friday, ₹390 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?

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