Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 335 · 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.Diya’s income was ₹440 and the profit was ₹370. One expense was ₹40 (transport). How much was the other expense, for posters (in ₹)?
2. 2.Diya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹40 (ribbon)
   Expense: ₹90 (posters)
   How much is the loss (in ₹)?
3. 3.Lakshmi’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹20 (stall fee)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
4. 4.Kavya’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹80 (sugar)
   Expense: ₹260 (lemons)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
6. 6.Riya’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹190 (stall fee)
   Expense: ₹90 (paper cups)
   How much is the loss (in ₹)?
7. 7.Nisha’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹180 (lemons)
   Expense: ₹140 (stall fee)
   How much is the loss (in ₹)?
8. 8.Gurpreet’s income was ₹120 and the profit was ₹40. One expense was ₹50 (paper cups). How much was the other expense, for lemons (in ₹)?
9. 9.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
10. 10.📒 Income or expense: money from sales? (a) income (b) expense
11. 11.📒 Income or expense: printing posters? (a) expense (b) income
12. 12.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
13. 13.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) tutoring fees received
14. 14.📒 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
15. 15.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹230 (stall fee)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
16. 16.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
17. 17.📒 Income or expense: a card order paid? (a) expense (b) income
18. 18.Kabir’s income was ₹210 and the profit was ₹90. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
19. 19.Kabir’s income was ₹310 and the profit was ₹200. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
20. 20.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) bus fare to the market
21. 21.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
22. 22.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
23. 23.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
24. 24.Meera’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
25. 25.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) a card order paid (d) cash from selling plants
26. 26.📒 Income or expense: tutoring fees received? (a) income (b) expense
27. 27.Gurpreet’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) a card order paid (d) cash from selling plants
29. 29.Tara’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
30. 30.True or false: “tutoring fees received” is income (money in). (a) False (b) True
31. 31.True or false: “payment for a cake order” is income (money in). (a) False (b) True
32. 32.Vihaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: cash from selling plants? (a) income (b) expense
34. 34.Joseph’s income was ₹310 and the profit was ₹200. One expense was ₹100 (ribbon). How much was the other expense, for lemons (in ₹)?
35. 35.Kabir’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹230 (stall fee)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
36. 36.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) printing posters (d) tutoring fees received
37. 37.📒 Income or expense: buying paper cups? (a) income (b) expense
38. 38.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) printing posters (d) buying lemons
39. 39.Dev’s income was ₹500 and the profit was ₹340. One expense was ₹150 (lemons). How much was the other expense, for stall fee (in ₹)?
40. 40.True or false: “paying the stall fee” is income (money in). (a) True (b) False

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