Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 370 · 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.Ananya’s income was ₹480 and the profit was ₹110. One expense was ₹270 (paper cups). How much was the other expense, for posters (in ₹)?
2. 2.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) printing posters (d) a card order paid
3. 3.Saanvi’s stall took in ₹290 on Friday, ₹230 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) buying lemons
5. 5.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) buying lemons (d) cash from selling plants
6. 6.True or false: “a card order paid” is income (money in). (a) False (b) True
7. 7.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) cash from selling plants (d) buying paper cups
8. 8.Rohan’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹20 (posters)
   Expense: ₹90 (transport)
   How much is the loss (in ₹)?
9. 9.Vihaan’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹160 (sugar)
   Expense: ₹90 (transport)
   What is the profit (in ₹)?
10. 10.Farhan’s stall took in ₹230 on Friday, ₹250 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) buying paper cups
12. 12.📒 Income or expense: cash from selling plants? (a) expense (b) income
13. 13.Ishaan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
15. 15.📒 Income or expense: buying paper cups? (a) income (b) expense
16. 16.Vihaan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
17. 17.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
18. 18.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
19. 19.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
20. 20.True or false: “money from sales” is an expense (money out). (a) True (b) False
21. 21.True or false: “payment for a cake order” is income (money in). (a) False (b) True
22. 22.Ishaan’s income was ₹500 and the profit was ₹10. One expense was ₹40 (stall fee). How much was the other expense, for card paper (in ₹)?
23. 23.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
24. 24.Rohan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹70 (posters)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
25. 25.Rohan’s stall took in ₹90 on Friday, ₹180 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
27. 27.Meera’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
28. 28.True or false: “paying the stall fee” is income (money in). (a) True (b) False
29. 29.Ananya’s income was ₹110 and the profit was ₹10. One expense was ₹90 (card paper). How much was the other expense, for stall fee (in ₹)?
30. 30.Joseph’s stall took in ₹110 on Friday, ₹250 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
31. 31.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
32. 32.Kabir’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
33. 33.Diya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹220 (sugar)
    How much is the loss (in ₹)?
34. 34.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
35. 35.Riya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) payment for a cake order
37. 37.📒 Income or expense: printing posters? (a) income (b) expense
38. 38.Farhan’s stall took in ₹350 on Friday, ₹310 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
39. 39.Kabir’s stall took in ₹380 on Friday, ₹230 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
40. 40.📒 Income or expense: paying the stall fee? (a) income (b) expense

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