Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 309 · 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.Saanvi’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹320 (ribbon)
   Expense: ₹40 (card paper)
   How much is the loss (in ₹)?
2. 2.Ishaan’s income was ₹480 and the profit was ₹190. One expense was ₹50 (transport). How much was the other expense, for lemons (in ₹)?
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) money from sales (d) payment for a cake order
4. 4.True or false: “money from sales” is an expense (money out). (a) False (b) True
5. 5.Riya’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹50 (paper cups)
   Expense: ₹20 (lemons)
   What is the profit (in ₹)?
6. 6.Ishaan’s stall took in ₹100 on Friday, ₹360 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
7. 7.Nisha’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹60 (sugar)
   Expense: ₹260 (ribbon)
   How much is the loss (in ₹)?
8. 8.Meera’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹60 (lemons)
   Expense: ₹50 (paper cups)
   What is the profit (in ₹)?
9. 9.Aarav’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹150 (paper cups)
   Expense: ₹130 (ribbon)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) income (b) expense
11. 11.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) payment for a cake order (d) money from sales
12. 12.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) buying paper cups (d) tutoring fees received
13. 13.Tara’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
14. 14.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
15. 15.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
16. 16.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) printing posters (d) bus fare to the market
17. 17.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) payment for a cake order
18. 18.📒 Income or expense: payment for a cake order? (a) income (b) expense
19. 19.Aarav’s stall took in ₹180 on Friday, ₹210 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
20. 20.📒 Income or expense: paying the stall fee? (a) expense (b) income
21. 21.Kavya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) expense (b) income
23. 23.Gurpreet’s income was ₹150 and the profit was ₹70. One expense was ₹40 (ribbon). How much was the other expense, for sugar (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
25. 25.Kavya’s stall took in ₹330 on Friday, ₹120 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
26. 26.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
27. 27.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
28. 28.Kavya’s income was ₹240 and the profit was ₹60. One expense was ₹130 (transport). How much was the other expense, for lemons (in ₹)?
29. 29.Riya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Dev’s stall took in ₹220 on Friday, ₹110 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying paper cups (d) buying lemons
33. 33.Lakshmi’s stall took in ₹50 on Friday, ₹140 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
34. 34.📒 Income or expense: a card order paid? (a) expense (b) income
35. 35.Ananya’s stall took in ₹60 on Friday, ₹350 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) payment for a cake order (d) cash from selling plants
37. 37.True or false: “payment for a cake order” is income (money in). (a) False (b) True
38. 38.True or false: “cash from selling plants” is income (money in). (a) False (b) True
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.Kabir’s stall took in ₹190 on Friday, ₹140 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?

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