Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 357 · 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: ₹300 (sales)
   Expense: ₹30 (transport)
   Expense: ₹310 (lemons)
   How much is the loss (in ₹)?
2. 2.Lakshmi’s stall took in ₹130 on Friday, ₹250 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
3. 3.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) payment for a cake order (d) paying the stall fee
4. 4.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) payment for a cake order (d) buying paper cups
5. 5.Gurpreet’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹270 (paper cups)
   Expense: ₹40 (card paper)
   How much is the loss (in ₹)?
6. 6.Ishaan’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹420 (evening sales)
   Expense: ₹90 (ribbon)
   Expense: ₹160 (sugar)
   What is the profit (in ₹)?
7. 7.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
8. 8.True or false: “paying the stall fee” is income (money in). (a) False (b) True
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
11. 11.Riya’s stall took in ₹390 on Friday, ₹300 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: printing posters? (a) income (b) expense
13. 13.📒 Income or expense: tutoring fees received? (a) income (b) expense
14. 14.Gurpreet’s income was ₹160 and the profit was ₹70. One expense was ₹60 (card paper). How much was the other expense, for posters (in ₹)?
15. 15.Tara’s stall took in ₹130 on Friday, ₹130 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
16. 16.Lakshmi’s income was ₹470 and the profit was ₹140. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
17. 17.Diya’s income was ₹410 and the profit was ₹380. One expense was ₹20 (lemons). How much was the other expense, for transport (in ₹)?
18. 18.Kabir’s income was ₹190 and the profit was ₹70. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
19. 19.True or false: “payment for a cake order” is income (money in). (a) False (b) True
20. 20.Saanvi’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹250 (ribbon)
    How much is the loss (in ₹)?
21. 21.Kavya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
22. 22.True or false: “cash from selling plants” is income (money in). (a) False (b) True
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying paper cups (d) payment for a cake order
24. 24.Nisha’s stall took in ₹130 on Friday, ₹240 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
25. 25.Vihaan’s stall took in ₹370 on Friday, ₹290 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “buying paper cups” is income (money in). (a) False (b) True
27. 27.True or false: “bus fare to the market” is income (money in). (a) True (b) False
28. 28.True or false: “buying lemons” is income (money in). (a) True (b) False
29. 29.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) cash from selling plants (d) paying the stall fee
30. 30.📒 Income or expense: buying lemons? (a) expense (b) income
31. 31.True or false: “printing posters” is an expense (money out). (a) True (b) False
32. 32.True or false: “tutoring fees received” is income (money in). (a) True (b) False
33. 33.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
34. 34.Dev’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹300 (transport)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
35. 35.True or false: “printing posters” is income (money in). (a) True (b) False
36. 36.Farhan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
37. 37.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) printing posters (d) bus fare to the market
38. 38.Zoya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
39. 39.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) money from sales (d) cash from selling plants
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) buying lemons (d) tutoring fees received

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