Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 177 · 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.Lakshmi’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹170 (paper cups)
   Expense: ₹110 (lemons)
   What is the profit (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
3. 3.Riya’s income was ₹350 and the profit was ₹80. One expense was ₹230 (stall fee). How much was the other expense, for card paper (in ₹)?
4. 4.True or false: “paying the stall fee” is income (money in). (a) False (b) True
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) money from sales (d) buying paper cups
7. 7.📒 Income or expense: buying lemons? (a) expense (b) income
8. 8.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
9. 9.Dev’s stall took in ₹300 on Friday, ₹310 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) tutoring fees received (d) bus fare to the market
11. 11.📒 Income or expense: money from sales? (a) expense (b) income
12. 12.Dev’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
13. 13.Riya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹270 (stall fee)
    How much is the loss (in ₹)?
14. 14.Lakshmi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
15. 15.Aarav’s income was ₹100 and the profit was ₹10. One expense was ₹50 (paper cups). How much was the other expense, for sugar (in ₹)?
16. 16.True or false: “printing posters” is income (money in). (a) True (b) False
17. 17.Gurpreet’s income was ₹280 and the profit was ₹50. One expense was ₹130 (stall fee). How much was the other expense, for sugar (in ₹)?
18. 18.📒 Income or expense: paying the stall fee? (a) income (b) expense
19. 19.Zoya’s record for the day:
    Income: ₹620 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
20. 20.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) a card order paid (d) bus fare to the market
21. 21.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
22. 22.Meera’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: bus fare to the market? (a) income (b) expense
24. 24.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) tutoring fees received (d) payment for a cake order
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) payment for a cake order (d) a card order paid
26. 26.Joseph’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
27. 27.Zoya’s income was ₹260 and the profit was ₹220. One expense was ₹20 (transport). How much was the other expense, for lemons (in ₹)?
28. 28.Riya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
29. 29.Dev’s stall took in ₹80 on Friday, ₹190 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
30. 30.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
31. 31.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
32. 32.Diya’s stall took in ₹240 on Friday, ₹360 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
33. 33.Meera’s income was ₹450 and the profit was ₹280. One expense was ₹100 (sugar). How much was the other expense, for paper cups (in ₹)?
34. 34.Aarav’s income was ₹240 and the profit was ₹50. One expense was ₹170 (sugar). How much was the other expense, for ribbon (in ₹)?
35. 35.📒 Income or expense: a card order paid? (a) income (b) expense
36. 36.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) cash from selling plants (d) bus fare to the market
37. 37.📒 Income or expense: cash from selling plants? (a) income (b) expense
38. 38.Lakshmi’s stall took in ₹80 on Friday, ₹100 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
39. 39.Meera’s income was ₹360 and the profit was ₹60. One expense was ₹250 (ribbon). How much was the other expense, for card paper (in ₹)?
40. 40.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?

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