Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 347 · 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.Meera’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹100 (lemons)
   Expense: ₹180 (stall fee)
   How much is the loss (in ₹)?
2. 2.Ishaan’s income was ₹380 and the profit was ₹30. One expense was ₹180 (lemons). How much was the other expense, for transport (in ₹)?
3. 3.Ishaan’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹100 (lemons)
   What is the profit (in ₹)?
4. 4.Dev’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹60 (card paper)
   Expense: ₹110 (paper cups)
   How much is the loss (in ₹)?
5. 5.Zoya’s stall took in ₹220 on Friday, ₹100 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.Arjun’s income was ₹170 and the profit was ₹140. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
9. 9.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
10. 10.True or false: “tutoring fees received” is income (money in). (a) False (b) True
11. 11.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹40 (transport)
    Expense: ₹170 (lemons)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: buying lemons? (a) expense (b) income
13. 13.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
14. 14.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) buying paper cups (d) a card order paid
15. 15.📒 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
16. 16.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) cash from selling plants (d) tutoring fees received
17. 17.Tara’s income was ₹230 and the profit was ₹170. One expense was ₹20 (lemons). How much was the other expense, for card paper (in ₹)?
18. 18.True or false: “printing posters” is income (money in). (a) True (b) False
19. 19.True or false: “a card order paid” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Tara’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
22. 22.True or false: “money from sales” is income (money in). (a) False (b) True
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) money from sales (d) tutoring fees received
24. 24.Tara’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
25. 25.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
26. 26.Zoya’s stall took in ₹160 on Friday, ₹290 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
27. 27.Riya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
28. 28.Ishaan’s income was ₹220 and the profit was ₹20. One expense was ₹180 (transport). How much was the other expense, for paper cups (in ₹)?
29. 29.Dev’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
30. 30.Saanvi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹220 (transport)
    How much is the loss (in ₹)?
31. 31.Aarav’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
32. 32.Dev’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
33. 33.Dev’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
34. 34.Which of these is income (money in)? (a) money from sales (b) printing posters (c) paying the stall fee (d) bus fare to the market
35. 35.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) a card order paid (d) payment for a cake order
37. 37.Kavya’s stall took in ₹250 on Friday, ₹170 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
38. 38.Kavya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: money from sales? (a) expense (b) income
40. 40.Arjun’s income was ₹420 and the profit was ₹30. One expense was ₹250 (card paper). How much was the other expense, for transport (in ₹)?

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