Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 207 · 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.Kavya’s income was ₹200 and the profit was ₹20. One expense was ₹70 (sugar). How much was the other expense, for posters (in ₹)?
2. 2.📒 Income or expense: bus fare to the market? (a) expense (b) income
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
4. 4.Saanvi’s income was ₹430 and the profit was ₹400. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
5. 5.Riya’s income was ₹110 and the profit was ₹60. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) cash from selling plants
7. 7.Rohan’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹30 (sugar)
   Expense: ₹30 (stall fee)
   What is the profit (in ₹)?
8. 8.Aarav’s record for the day:
   Income: ₹530 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹180 (posters)
   Expense: ₹190 (ribbon)
   What is the profit (in ₹)?
9. 9.Aarav’s income was ₹390 and the profit was ₹240. One expense was ₹130 (posters). How much was the other expense, for stall fee (in ₹)?
10. 10.Aarav’s stall took in ₹230 on Friday, ₹50 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
11. 11.Ananya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
12. 12.Tara’s income was ₹480 and the profit was ₹70. One expense was ₹270 (posters). How much was the other expense, for card paper (in ₹)?
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
14. 14.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
15. 15.Riya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹190 (paper cups)
    How much is the loss (in ₹)?
16. 16.Vihaan’s stall took in ₹360 on Friday, ₹160 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
17. 17.Saanvi’s stall took in ₹130 on Friday, ₹90 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “money from sales” is income (money in). (a) True (b) False
19. 19.Zoya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹250 (lemons)
    How much is the loss (in ₹)?
20. 20.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) bus fare to the market (d) money from sales
21. 21.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
22. 22.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) printing posters (d) payment for a cake order
23. 23.True or false: “tutoring fees received” is income (money in). (a) True (b) False
24. 24.📒 Income or expense: payment for a cake order? (a) expense (b) income
25. 25.📒 Income or expense: buying paper cups? (a) expense (b) income
26. 26.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
27. 27.Farhan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
28. 28.Nisha’s stall took in ₹70 on Friday, ₹120 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
29. 29.Kabir’s income was ₹380 and the profit was ₹190. One expense was ₹50 (ribbon). How much was the other expense, for stall fee (in ₹)?
30. 30.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order
31. 31.📒 Income or expense: a card order paid? (a) expense (b) income
32. 32.True or false: “money from sales” is an expense (money out). (a) False (b) True
33. 33.Farhan’s stall took in ₹100 on Friday, ₹370 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “buying paper cups” is income (money in). (a) True (b) False
35. 35.Riya’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
36. 36.Arjun’s income was ₹470 and the profit was ₹50. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
37. 37.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
38. 38.Tara’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: buying lemons? (a) income (b) expense
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) cash from selling plants (d) money from sales

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