Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 181 · 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.Meera’s stall took in ₹330 on Friday, ₹290 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
2. 2.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
3. 3.Ishaan’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹160 (lemons)
   What is the profit (in ₹)?
4. 4.Kavya’s income was ₹310 and the profit was ₹50. One expense was ₹100 (sugar). How much was the other expense, for ribbon (in ₹)?
5. 5.📒 Income or expense: money from sales? (a) expense (b) income
6. 6.Dev’s stall took in ₹220 on Friday, ₹170 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
7. 7.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
8. 8.Zoya’s income was ₹460 and the profit was ₹30. One expense was ₹200 (posters). How much was the other expense, for sugar (in ₹)?
9. 9.Diya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹20 (posters)
   Expense: ₹140 (sugar)
   How much is the loss (in ₹)?
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
11. 11.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) tutoring fees received
12. 12.True or false: “money from sales” is an expense (money out). (a) False (b) True
13. 13.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
14. 14.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) tutoring fees received (d) payment for a cake order
15. 15.📒 Income or expense: paying the stall fee? (a) expense (b) income
16. 16.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) bus fare to the market (d) paying the stall fee
17. 17.True or false: “printing posters” is income (money in). (a) True (b) False
18. 18.Farhan’s income was ₹480 and the profit was ₹90. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
19. 19.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) a card order paid
20. 20.Tara’s stall took in ₹110 on Friday, ₹150 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) cash from selling plants (d) printing posters
22. 22.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
23. 23.True or false: “bus fare to the market” is income (money in). (a) False (b) True
24. 24.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
27. 27.Kavya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying lemons (d) paying the stall fee
29. 29.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) buying lemons
30. 30.Nisha’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (posters)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
31. 31.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
32. 32.True or false: “buying lemons” is income (money in). (a) False (b) True
33. 33.True or false: “a card order paid” is income (money in). (a) True (b) False
34. 34.Kabir’s stall took in ₹210 on Friday, ₹260 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
35. 35.Aarav’s income was ₹140 and the profit was ₹110. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
36. 36.Ananya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (posters)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
37. 37.Kabir’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (transport)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
38. 38.Lakshmi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
39. 39.Rohan’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
40. 40.Ananya’s income was ₹470 and the profit was ₹100. One expense was ₹190 (lemons). How much was the other expense, for paper cups (in ₹)?

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