Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 201 · 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.Kabir’s income was ₹200 and the profit was ₹170. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
2. 2.Zoya’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹50 (paper cups)
   Expense: ₹20 (lemons)
   What is the profit (in ₹)?
3. 3.Zoya’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹20 (posters)
   Expense: ₹110 (lemons)
   What is the profit (in ₹)?
4. 4.Vihaan’s income was ₹500 and the profit was ₹460. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
6. 6.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) buying lemons (d) a card order paid
7. 7.True or false: “buying lemons” is income (money in). (a) True (b) False
8. 8.📒 Income or expense: cash from selling plants? (a) income (b) expense
9. 9.Saanvi’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹170 (posters)
   Expense: ₹40 (card paper)
   How much is the loss (in ₹)?
10. 10.Zoya’s income was ₹380 and the profit was ₹150. One expense was ₹60 (transport). How much was the other expense, for lemons (in ₹)?
11. 11.Riya’s income was ₹390 and the profit was ₹270. One expense was ₹50 (paper cups). How much was the other expense, for ribbon (in ₹)?
12. 12.📒 Income or expense: payment for a cake order? (a) expense (b) income
13. 13.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) paying the stall fee (d) buying paper cups
14. 14.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
15. 15.Joseph’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
16. 16.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
17. 17.📒 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
18. 18.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
19. 19.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) cash from selling plants (d) bus fare to the market
20. 20.Joseph’s stall took in ₹290 on Friday, ₹60 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
21. 21.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
22. 22.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) bus fare to the market (d) payment for a cake order
23. 23.True or false: “tutoring fees received” is income (money in). (a) True (b) False
24. 24.Gurpreet’s income was ₹280 and the profit was ₹210. One expense was ₹40 (lemons). How much was the other expense, for posters (in ₹)?
25. 25.Kabir’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
26. 26.Riya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
28. 28.Diya’s income was ₹450 and the profit was ₹20. One expense was ₹100 (ribbon). How much was the other expense, for lemons (in ₹)?
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.📒 Income or expense: buying paper cups? (a) expense (b) income
31. 31.True or false: “money from sales” is income (money in). (a) False (b) True
32. 32.Riya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
33. 33.Diya’s income was ₹270 and the profit was ₹150. One expense was ₹100 (posters). How much was the other expense, for lemons (in ₹)?
34. 34.Nisha’s income was ₹260 and the profit was ₹30. One expense was ₹130 (card paper). How much was the other expense, for stall fee (in ₹)?
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) paying the stall fee
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.Nisha’s stall took in ₹340 on Friday, ₹310 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
38. 38.Ananya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
39. 39.Lakshmi’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
40. 40.Saanvi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?

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