Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 142 · 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.Ananya’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹20 (paper cups)
   Expense: ₹40 (sugar)
   What is the profit (in ₹)?
2. 2.Nisha’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹30 (card paper)
   Expense: ₹100 (transport)
   What is the profit (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
4. 4.Zoya’s stall took in ₹120 on Friday, ₹170 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
5. 5.Joseph’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹200 (card paper)
   Expense: ₹180 (stall fee)
   What is the profit (in ₹)?
6. 6.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) bus fare to the market
8. 8.Riya’s stall took in ₹130 on Friday, ₹60 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
9. 9.Lakshmi’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹250 (posters)
   Expense: ₹100 (paper cups)
   How much is the loss (in ₹)?
10. 10.Joseph’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
11. 11.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (posters)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) money from sales
13. 13.Joseph’s income was ₹240 and the profit was ₹20. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
14. 14.Ishaan’s stall took in ₹110 on Friday, ₹140 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “tutoring fees received” is income (money in). (a) False (b) True
16. 16.True or false: “bus fare to the market” is income (money in). (a) False (b) True
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying lemons (d) a card order paid
18. 18.Nisha’s stall took in ₹290 on Friday, ₹210 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “money from sales” is an expense (money out). (a) False (b) True
20. 20.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
21. 21.Lakshmi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: bus fare to the market? (a) expense (b) income
23. 23.Kavya’s income was ₹220 and the profit was ₹140. One expense was ₹60 (card paper). How much was the other expense, for paper cups (in ₹)?
24. 24.True or false: “cash from selling plants” is income (money in). (a) False (b) True
25. 25.True or false: “buying lemons” is an expense (money out). (a) False (b) True
26. 26.Dev’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: buying lemons? (a) income (b) expense
28. 28.True or false: “printing posters” is an expense (money out). (a) True (b) False
29. 29.Zoya’s income was ₹310 and the profit was ₹150. One expense was ₹30 (sugar). How much was the other expense, for card paper (in ₹)?
30. 30.Nisha’s income was ₹130 and the profit was ₹100. One expense was ₹20 (card paper). How much was the other expense, for transport (in ₹)?
31. 31.True or false: “paying the stall fee” is income (money in). (a) False (b) True
32. 32.📒 Income or expense: tutoring fees received? (a) income (b) expense
33. 33.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) printing posters (d) bus fare to the market
34. 34.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) cash from selling plants (d) paying the stall fee
35. 35.Lakshmi’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
36. 36.Meera’s stall took in ₹130 on Friday, ₹140 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
37. 37.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹20 (posters)
    Expense: ₹290 (card paper)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: payment for a cake order? (a) income (b) expense
39. 39.📒 Income or expense: money from sales? (a) expense (b) income
40. 40.Diya’s income was ₹320 and the profit was ₹90. One expense was ₹120 (paper cups). How much was the other expense, for stall fee (in ₹)?

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