Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 395 · 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.Ishaan’s stall took in ₹320 on Friday, ₹390 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) paying the stall fee (d) a card order paid
3. 3.Kabir’s record for the day:
   Income: ₹350 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹60 (stall fee)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: payment for a cake order? (a) expense (b) income
5. 5.Nisha’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹130 (paper cups)
   Expense: ₹200 (stall fee)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying paper cups (d) a card order paid
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying lemons (d) tutoring fees received
9. 9.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) a card order paid (d) cash from selling plants
10. 10.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
11. 11.True or false: “buying lemons” is income (money in). (a) False (b) True
12. 12.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) bus fare to the market (d) paying the stall fee
13. 13.Diya’s income was ₹310 and the profit was ₹60. One expense was ₹120 (lemons). How much was the other expense, for stall fee (in ₹)?
14. 14.Rohan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
15. 15.Dev’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
16. 16.True or false: “a card order paid” is income (money in). (a) False (b) True
17. 17.Aarav’s stall took in ₹290 on Friday, ₹130 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
18. 18.Ishaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
19. 19.Aarav’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: printing posters? (a) income (b) expense
21. 21.Kavya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹30 (posters)
    Expense: ₹270 (stall fee)
    How much is the loss (in ₹)?
22. 22.Lakshmi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
23. 23.Dev’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
25. 25.📒 Income or expense: paying the stall fee? (a) income (b) expense
26. 26.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
27. 27.True or false: “printing posters” is an expense (money out). (a) True (b) False
28. 28.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
29. 29.Riya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) buying lemons (d) buying paper cups
31. 31.Lakshmi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (posters)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
32. 32.Aarav’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹190 (paper cups)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
34. 34.Aarav’s income was ₹200 and the profit was ₹100. One expense was ₹40 (sugar). How much was the other expense, for paper cups (in ₹)?
35. 35.True or false: “money from sales” is an expense (money out). (a) False (b) True
36. 36.Rohan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) income (b) expense
38. 38.Farhan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
39. 39.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) bus fare to the market
40. 40.📒 Income or expense: money from sales? (a) income (b) expense

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