Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 442 · 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 the day:
   Income: ₹300 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹170 (stall fee)
   Expense: ₹160 (paper cups)
   What is the profit (in ₹)?
2. 2.Farhan’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹160 (lemons)
   Expense: ₹160 (card paper)
   How much is the loss (in ₹)?
3. 3.Farhan’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹30 (posters)
   Expense: ₹130 (lemons)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
6. 6.📒 Income or expense: tutoring fees received? (a) income (b) expense
7. 7.Kavya’s income was ₹120 and the profit was ₹30. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) printing posters (d) a card order paid
9. 9.Zoya’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹80 (paper cups)
   Expense: ₹180 (ribbon)
   How much is the loss (in ₹)?
10. 10.True or false: “money from sales” is income (money in). (a) False (b) True
11. 11.True or false: “a card order paid” is income (money in). (a) True (b) False
12. 12.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) bus fare to the market (d) payment for a cake order
13. 13.True or false: “money from sales” is an expense (money out). (a) True (b) False
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
15. 15.Joseph’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹270 (paper cups)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
16. 16.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
17. 17.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.Riya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
20. 20.Joseph’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
21. 21.Kavya’s income was ₹170 and the profit was ₹20. One expense was ₹110 (lemons). How much was the other expense, for paper cups (in ₹)?
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
23. 23.Farhan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.Rohan’s stall took in ₹220 on Friday, ₹370 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
26. 26.Farhan’s income was ₹310 and the profit was ₹120. One expense was ₹80 (paper cups). How much was the other expense, for ribbon (in ₹)?
27. 27.Diya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
29. 29.Farhan’s income was ₹470 and the profit was ₹140. One expense was ₹70 (stall fee). How much was the other expense, for paper cups (in ₹)?
30. 30.True or false: “tutoring fees received” is income (money in). (a) False (b) True
31. 31.Tara’s stall took in ₹270 on Friday, ₹80 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) buying paper cups (d) buying lemons
33. 33.True or false: “paying the stall fee” is income (money in). (a) False (b) True
34. 34.Arjun’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: buying paper cups? (a) income (b) expense
36. 36.Farhan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
37. 37.True or false: “payment for a cake order” is income (money in). (a) True (b) False
38. 38.Zoya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
39. 39.Diya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
40. 40.Ishaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹270 (lemons)
    How much is the loss (in ₹)?

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