Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 42 · 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.Kabir’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹180 (paper cups)
   Expense: ₹20 (ribbon)
   How much is the loss (in ₹)?
2. 2.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) tutoring fees received
3. 3.Saanvi’s stall took in ₹90 on Friday, ₹340 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
4. 4.Meera’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹170 (lemons)
   Expense: ₹40 (card paper)
   What is the profit (in ₹)?
5. 5.Aarav’s stall took in ₹220 on Friday, ₹190 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
6. 6.Riya’s income was ₹240 and the profit was ₹190. One expense was ₹30 (paper cups). How much was the other expense, for posters (in ₹)?
7. 7.📒 Income or expense: printing posters? (a) expense (b) income
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.True or false: “a card order paid” is income (money in). (a) True (b) False
10. 10.Farhan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: a card order paid? (a) income (b) expense
12. 12.Kabir’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
13. 13.Ishaan’s income was ₹420 and the profit was ₹60. One expense was ₹160 (sugar). How much was the other expense, for lemons (in ₹)?
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) printing posters (d) cash from selling plants
15. 15.True or false: “money from sales” is an expense (money out). (a) False (b) True
16. 16.Kavya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
17. 17.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying paper cups (d) printing posters
18. 18.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) paying the stall fee (d) printing posters
19. 19.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
20. 20.True or false: “buying lemons” is an expense (money out). (a) False (b) True
21. 21.True or false: “a card order paid” is an expense (money out). (a) True (b) False
22. 22.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) printing posters (d) paying the stall fee
23. 23.Farhan’s income was ₹250 and the profit was ₹120. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
24. 24.Aarav’s stall took in ₹230 on Friday, ₹110 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.Nisha’s stall took in ₹290 on Friday, ₹180 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
27. 27.Nisha’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
28. 28.Diya’s income was ₹230 and the profit was ₹160. One expense was ₹60 (paper cups). How much was the other expense, for transport (in ₹)?
29. 29.📒 Income or expense: buying lemons? (a) income (b) expense
30. 30.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
31. 31.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) printing posters (d) buying lemons
32. 32.Lakshmi’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
33. 33.Aarav’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
34. 34.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
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.Ananya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
37. 37.Ananya’s income was ₹200 and the profit was ₹140. One expense was ₹10 (posters). How much was the other expense, for stall fee (in ₹)?
38. 38.Nisha’s income was ₹320 and the profit was ₹180. One expense was ₹30 (transport). How much was the other expense, for sugar (in ₹)?
39. 39.Kabir’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
40. 40.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses

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