Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 396 · 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: ₹50 (sales)
   Expense: ₹110 (card paper)
   Expense: ₹40 (paper cups)
   How much is the loss (in ₹)?
2. 2.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
3. 3.Farhan’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹40 (sugar)
   Expense: ₹110 (posters)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
6. 6.Saanvi’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹40 (posters)
   Expense: ₹190 (lemons)
   What is the profit (in ₹)?
7. 7.Kavya’s income was ₹120 and the profit was ₹40. One expense was ₹10 (ribbon). How much was the other expense, for sugar (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
9. 9.Diya’s income was ₹320 and the profit was ₹200. One expense was ₹70 (card paper). How much was the other expense, for sugar (in ₹)?
10. 10.Rohan’s stall took in ₹160 on Friday, ₹200 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) cash from selling plants
12. 12.Riya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹150 (sugar)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: bus fare to the market? (a) expense (b) income
14. 14.True or false: “printing posters” is income (money in). (a) True (b) False
15. 15.📒 Income or expense: buying paper cups? (a) income (b) expense
16. 16.Gurpreet’s stall took in ₹70 on Friday, ₹180 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
17. 17.Saanvi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
18. 18.True or false: “tutoring fees received” is income (money in). (a) True (b) False
19. 19.Kabir’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹310 (ribbon)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying lemons (d) bus fare to the market
21. 21.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) bus fare to the market
22. 22.📒 Income or expense: money from sales? (a) income (b) expense
23. 23.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
24. 24.Meera’s stall took in ₹120 on Friday, ₹350 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
25. 25.Diya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹280 (transport)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
26. 26.Kabir’s stall took in ₹270 on Friday, ₹390 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) printing posters (d) cash from selling plants
28. 28.Riya’s stall took in ₹220 on Friday, ₹140 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
29. 29.Arjun’s stall took in ₹80 on Friday, ₹60 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
30. 30.Tara’s income was ₹300 and the profit was ₹70. One expense was ₹190 (paper cups). How much was the other expense, for lemons (in ₹)?
31. 31.Aarav’s stall took in ₹110 on Friday, ₹120 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
32. 32.Rohan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
33. 33.True or false: “buying lemons” is an expense (money out). (a) False (b) True
34. 34.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
35. 35.Dev’s income was ₹490 and the profit was ₹460. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
36. 36.Rohan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
37. 37.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) money from sales
38. 38.Ishaan’s income was ₹160 and the profit was ₹100. One expense was ₹40 (stall fee). How much was the other expense, for ribbon (in ₹)?
39. 39.True or false: “cash from selling plants” is income (money in). (a) False (b) True
40. 40.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) bus fare to the market (d) buying paper cups

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