Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 292 · 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.Aarav’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹50 (card paper)
   Expense: ₹50 (posters)
   How much is the loss (in ₹)?
2. 2.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) cash from selling plants (d) tutoring fees received
3. 3.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
4. 4.📒 Income or expense: buying paper cups? (a) expense (b) income
5. 5.Tara’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹140 (card paper)
   Expense: ₹170 (lemons)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.Lakshmi’s stall took in ₹380 on Friday, ₹300 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “printing posters” is income (money in). (a) False (b) True
9. 9.True or false: “money from sales” is an expense (money out). (a) True (b) False
10. 10.Joseph’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) bus fare to the market (d) payment for a cake order
12. 12.Rohan’s income was ₹490 and the profit was ₹280. One expense was ₹60 (ribbon). How much was the other expense, for posters (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹150 (paper cups)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
15. 15.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
16. 16.True or false: “money from sales” is income (money in). (a) True (b) False
17. 17.📒 Income or expense: cash from selling plants? (a) expense (b) income
18. 18.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) printing posters (d) tutoring fees received
19. 19.Saanvi’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
20. 20.Kavya’s income was ₹110 and the profit was ₹30. One expense was ₹70 (transport). How much was the other expense, for lemons (in ₹)?
21. 21.Lakshmi’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) a card order paid
23. 23.Nisha’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
26. 26.Joseph’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹260 (lemons)
    How much is the loss (in ₹)?
27. 27.Saanvi’s income was ₹330 and the profit was ₹30. One expense was ₹160 (stall fee). How much was the other expense, for sugar (in ₹)?
28. 28.Farhan’s income was ₹450 and the profit was ₹420. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
29. 29.Joseph’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹50 (transport)
    Expense: ₹240 (card paper)
    How much is the loss (in ₹)?
30. 30.Lakshmi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
31. 31.True or false: “tutoring fees received” is income (money in). (a) False (b) True
32. 32.📒 Income or expense: payment for a cake order? (a) income (b) expense
33. 33.📒 Income or expense: money from sales? (a) income (b) expense
34. 34.Tara’s stall took in ₹160 on Friday, ₹160 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
35. 35.Saanvi’s stall took in ₹200 on Friday, ₹220 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
36. 36.Meera’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
37. 37.Zoya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
38. 38.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) bus fare to the market (d) printing posters
39. 39.Meera’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
40. 40.Nisha’s income was ₹200 and the profit was ₹20. One expense was ₹150 (paper cups). How much was the other expense, for sugar (in ₹)?

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