Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 351 · 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: ₹300 (sales)
   Expense: ₹50 (ribbon)
   Expense: ₹330 (lemons)
   How much is the loss (in ₹)?
2. 2.Ishaan’s income was ₹490 and the profit was ₹470. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
3. 3.Diya’s stall took in ₹170 on Friday, ₹250 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
4. 4.Vihaan’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹80 (paper cups)
   Expense: ₹70 (posters)
   How much is the loss (in ₹)?
5. 5.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) money from sales (d) cash from selling plants
6. 6.📒 Income or expense: tutoring fees received? (a) expense (b) income
7. 7.Vihaan’s income was ₹500 and the profit was ₹440. One expense was ₹20 (paper cups). How much was the other expense, for lemons (in ₹)?
8. 8.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
9. 9.Rohan’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹40 (ribbon)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
10. 10.Vihaan’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
11. 11.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
12. 12.Kabir’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
13. 13.Kavya’s stall took in ₹270 on Friday, ₹60 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) cash from selling plants
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) bus fare to the market (d) buying lemons
16. 16.Vihaan’s income was ₹360 and the profit was ₹30. One expense was ₹130 (lemons). How much was the other expense, for card paper (in ₹)?
17. 17.Riya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.📒 Income or expense: printing posters? (a) expense (b) income
20. 20.Aarav’s stall took in ₹180 on Friday, ₹330 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
21. 21.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
22. 22.Lakshmi’s stall took in ₹50 on Friday, ₹300 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
23. 23.Nisha’s income was ₹390 and the profit was ₹310. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
24. 24.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) bus fare to the market (d) tutoring fees received
25. 25.Lakshmi’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
26. 26.Zoya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
27. 27.Meera’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹220 (card paper)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
28. 28.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) tutoring fees received (d) payment for a cake order
31. 31.True or false: “buying paper cups” is income (money in). (a) True (b) False
32. 32.Saanvi’s income was ₹190 and the profit was ₹50. One expense was ₹60 (sugar). How much was the other expense, for paper cups (in ₹)?
33. 33.Ishaan’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: buying lemons? (a) income (b) expense
35. 35.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
36. 36.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) a card order paid (d) cash from selling plants
37. 37.True or false: “money from sales” is income (money in). (a) False (b) True
38. 38.Saanvi’s income was ₹480 and the profit was ₹70. One expense was ₹80 (card paper). How much was the other expense, for sugar (in ₹)?
39. 39.Kabir’s income was ₹310 and the profit was ₹80. One expense was ₹40 (lemons). How much was the other expense, for paper cups (in ₹)?
40. 40.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) tutoring fees received (d) paying the stall fee

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