Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 326 · 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.Lakshmi’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹100 (ribbon)
   Expense: ₹70 (card paper)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: bus fare to the market? (a) income (b) expense
3. 3.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) payment for a cake order (d) tutoring fees received
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) tutoring fees received
5. 5.Meera’s income was ₹160 and the profit was ₹80. One expense was ₹50 (transport). How much was the other expense, for ribbon (in ₹)?
6. 6.Meera’s stall took in ₹220 on Friday, ₹220 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
7. 7.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
9. 9.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
10. 10.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) printing posters (d) money from sales
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
12. 12.📒 Income or expense: a card order paid? (a) expense (b) income
13. 13.Ananya’s income was ₹280 and the profit was ₹160. One expense was ₹60 (lemons). How much was the other expense, for sugar (in ₹)?
14. 14.Saanvi’s stall took in ₹200 on Friday, ₹190 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
15. 15.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
16. 16.Diya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
17. 17.Diya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
18. 18.Gurpreet’s stall took in ₹370 on Friday, ₹80 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
19. 19.Joseph’s stall took in ₹260 on Friday, ₹340 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “money from sales” is income (money in). (a) False (b) True
21. 21.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) a card order paid (d) payment for a cake order
22. 22.Farhan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹240 (card paper)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: printing posters? (a) income (b) expense
24. 24.Farhan’s income was ₹350 and the profit was ₹10. One expense was ₹110 (stall fee). How much was the other expense, for card paper (in ₹)?
25. 25.Kabir’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) money from sales (d) cash from selling plants
27. 27.Gurpreet’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
28. 28.Gurpreet’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
29. 29.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) money from sales
30. 30.📒 Income or expense: tutoring fees received? (a) expense (b) income
31. 31.Ishaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
32. 32.Ishaan’s income was ₹320 and the profit was ₹50. One expense was ₹240 (transport). How much was the other expense, for stall fee (in ₹)?
33. 33.Farhan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
34. 34.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
35. 35.Arjun’s stall took in ₹60 on Friday, ₹180 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
36. 36.Meera’s income was ₹500 and the profit was ₹10. One expense was ₹440 (lemons). How much was the other expense, for sugar (in ₹)?
37. 37.Diya’s stall took in ₹50 on Friday, ₹360 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) buying lemons (d) printing posters
39. 39.Ishaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
40. 40.Diya’s stall took in ₹380 on Friday, ₹70 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?

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