Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 435 · 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.Dev’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹150 (paper cups)
   Expense: ₹150 (stall fee)
   How much is the loss (in ₹)?
2. 2.📒 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
3. 3.Arjun’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹200 (stall fee)
   Expense: ₹80 (ribbon)
   What is the profit (in ₹)?
4. 4.Ananya’s income was ₹180 and the profit was ₹70. One expense was ₹20 (card paper). How much was the other expense, for stall fee (in ₹)?
5. 5.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order
6. 6.Arjun’s income was ₹470 and the profit was ₹200. One expense was ₹100 (ribbon). How much was the other expense, for stall fee (in ₹)?
7. 7.Kabir’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹90 (lemons)
   Expense: ₹140 (paper cups)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: payment for a cake order? (a) expense (b) income
9. 9.Farhan’s income was ₹110 and the profit was ₹30. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
10. 10.📒 Income or expense: a card order paid? (a) expense (b) income
11. 11.Aarav’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
12. 12.True or false: “payment for a cake order” is income (money in). (a) True (b) False
13. 13.📒 Income or expense: printing posters? (a) income (b) expense
14. 14.Kavya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
15. 15.Ishaan’s income was ₹260 and the profit was ₹160. One expense was ₹90 (card paper). How much was the other expense, for sugar (in ₹)?
16. 16.📒 Income or expense: money from sales? (a) expense (b) income
17. 17.Nisha’s stall took in ₹320 on Friday, ₹400 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
18. 18.Diya’s income was ₹200 and the profit was ₹70. One expense was ₹30 (stall fee). How much was the other expense, for ribbon (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
20. 20.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) printing posters
21. 21.Nisha’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: buying paper cups? (a) income (b) expense
23. 23.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
24. 24.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) a card order paid (d) cash from selling plants
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) paying the stall fee (d) money from sales
26. 26.📒 Income or expense: buying lemons? (a) expense (b) income
27. 27.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) buying paper cups (d) buying lemons
28. 28.Ishaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹170 (posters)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
29. 29.Riya’s stall took in ₹70 on Friday, ₹270 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
31. 31.True or false: “printing posters” is income (money in). (a) False (b) True
32. 32.True or false: “buying lemons” is an expense (money out). (a) True (b) False
33. 33.Riya’s income was ₹340 and the profit was ₹230. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
34. 34.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) printing posters (d) a card order paid
35. 35.Joseph’s income was ₹290 and the profit was ₹80. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
36. 36.Ishaan’s stall took in ₹110 on Friday, ₹140 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “cash from selling plants” is income (money in). (a) True (b) False
38. 38.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
39. 39.Kabir’s stall took in ₹180 on Friday, ₹180 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
40. 40.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year

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