Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 427 · 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.Riya’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹360 (evening sales)
   Expense: ₹110 (lemons)
   Expense: ₹120 (transport)
   What is the profit (in ₹)?
2. 2.Diya’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹30 (posters)
   Expense: ₹190 (card paper)
   What is the profit (in ₹)?
3. 3.Ananya’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹100 (sugar)
   Expense: ₹160 (transport)
   How much is the loss (in ₹)?
4. 4.Nisha’s income was ₹320 and the profit was ₹150. One expense was ₹160 (sugar). How much was the other expense, for ribbon (in ₹)?
5. 5.Riya’s record for the day:
   Income: ₹550 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹170 (lemons)
   Expense: ₹130 (ribbon)
   What is the profit (in ₹)?
6. 6.Aarav’s record for the day:
   Income: ₹480 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹190 (paper cups)
   Expense: ₹110 (sugar)
   What is the profit (in ₹)?
7. 7.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
8. 8.Kavya’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹100 (ribbon)
   Expense: ₹150 (lemons)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: a card order paid? (a) income (b) expense
10. 10.True or false: “buying paper cups” is income (money in). (a) True (b) False
11. 11.Meera’s income was ₹390 and the profit was ₹260. One expense was ₹120 (ribbon). How much was the other expense, for card paper (in ₹)?
12. 12.📒 Income or expense: buying paper cups? (a) income (b) expense
13. 13.True or false: “tutoring fees received” is income (money in). (a) True (b) False
14. 14.True or false: “buying lemons” is an expense (money out). (a) True (b) False
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) money from sales (d) bus fare to the market
16. 16.Kavya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
17. 17.Rohan’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
18. 18.Tara’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
19. 19.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
20. 20.📒 Income or expense: cash from selling plants? (a) expense (b) income
21. 21.True or false: “buying lemons” is income (money in). (a) False (b) True
22. 22.Aarav’s income was ₹280 and the profit was ₹130. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
23. 23.Diya’s income was ₹480 and the profit was ₹60. One expense was ₹30 (paper cups). How much was the other expense, for card paper (in ₹)?
24. 24.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) bus fare to the market (d) printing posters
25. 25.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
26. 26.Ananya’s income was ₹290 and the profit was ₹10. One expense was ₹90 (paper cups). How much was the other expense, for card paper (in ₹)?
27. 27.True or false: “money from sales” is income (money in). (a) True (b) False
28. 28.Zoya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹550 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
29. 29.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
30. 30.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) a card order paid (d) money from sales
31. 31.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
32. 32.True or false: “printing posters” is income (money in). (a) False (b) True
33. 33.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) money from sales (d) tutoring fees received
34. 34.📒 Income or expense: tutoring fees received? (a) income (b) expense
35. 35.Vihaan’s stall took in ₹280 on Friday, ₹170 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
36. 36.Ishaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) expense (b) income
38. 38.Riya’s income was ₹160 and the profit was ₹30. One expense was ₹120 (lemons). How much was the other expense, for posters (in ₹)?
39. 39.Diya’s stall took in ₹160 on Friday, ₹350 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
40. 40.Diya’s stall took in ₹100 on Friday, ₹290 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?

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