Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 214 · 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.Arjun’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹70 (lemons)
   Expense: ₹60 (card paper)
   How much is the loss (in ₹)?
2. 2.Aarav’s income was ₹240 and the profit was ₹10. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
3. 3.Ananya’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹70 (paper cups)
   Expense: ₹150 (lemons)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) a card order paid
5. 5.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
6. 6.Riya’s stall took in ₹350 on Friday, ₹50 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) bus fare to the market (d) payment for a cake order
8. 8.True or false: “payment for a cake order” is income (money in). (a) False (b) True
9. 9.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
10. 10.True or false: “money from sales” is income (money in). (a) False (b) True
11. 11.Kabir’s income was ₹170 and the profit was ₹110. One expense was ₹50 (sugar). How much was the other expense, for stall fee (in ₹)?
12. 12.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
13. 13.📒 Income or expense: bus fare to the market? (a) expense (b) income
14. 14.Riya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
15. 15.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying lemons (d) paying the stall fee
16. 16.Zoya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹160 (ribbon)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
17. 17.Joseph’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
18. 18.Ishaan’s stall took in ₹110 on Friday, ₹130 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) cash from selling plants (d) payment for a cake order
20. 20.📒 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
21. 21.Joseph’s income was ₹350 and the profit was ₹50. One expense was ₹100 (sugar). How much was the other expense, for card paper (in ₹)?
22. 22.True or false: “printing posters” is an expense (money out). (a) False (b) True
23. 23.Gurpreet’s stall took in ₹90 on Friday, ₹120 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “a card order paid” is income (money in). (a) False (b) True
25. 25.Joseph’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
26. 26.Dev’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
27. 27.Joseph’s income was ₹100 and the profit was ₹50. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
28. 28.Nisha’s income was ₹330 and the profit was ₹20. One expense was ₹110 (posters). How much was the other expense, for paper cups (in ₹)?
29. 29.Farhan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
30. 30.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
31. 31.True or false: “cash from selling plants” is income (money in). (a) False (b) True
32. 32.Diya’s stall took in ₹170 on Friday, ₹150 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
33. 33.Vihaan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
34. 34.Riya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
35. 35.Aarav’s stall took in ₹150 on Friday, ₹240 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
36. 36.Zoya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
37. 37.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (posters)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: money from sales? (a) expense (b) income
39. 39.📒 Income or expense: a card order paid? (a) income (b) expense
40. 40.Nisha’s income was ₹150 and the profit was ₹40. One expense was ₹30 (stall fee). How much was the other expense, for ribbon (in ₹)?

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