Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 443 · 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.Diya’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹140 (stall fee)
   Expense: ₹50 (card paper)
   What is the profit (in ₹)?
2. 2.Rohan’s income was ₹150 and the profit was ₹20. One expense was ₹40 (lemons). How much was the other expense, for ribbon (in ₹)?
3. 3.Nisha’s stall took in ₹60 on Friday, ₹210 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
4. 4.Gurpreet’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹80 (ribbon)
   Expense: ₹50 (card paper)
   How much is the loss (in ₹)?
5. 5.Joseph’s income was ₹130 and the profit was ₹90. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.Joseph’s stall took in ₹260 on Friday, ₹380 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
9. 9.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
10. 10.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) tutoring fees received
11. 11.📒 Income or expense: buying paper cups? (a) expense (b) income
12. 12.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
13. 13.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
14. 14.📒 Income or expense: paying the stall fee? (a) expense (b) income
15. 15.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) cash from selling plants
16. 16.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
17. 17.Vihaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: payment for a cake order? (a) expense (b) income
19. 19.Meera’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: tutoring fees received? (a) income (b) expense
21. 21.Ananya’s stall took in ₹340 on Friday, ₹160 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “printing posters” is an expense (money out). (a) True (b) False
23. 23.Joseph’s stall took in ₹170 on Friday, ₹100 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) payment for a cake order
25. 25.Kabir’s income was ₹190 and the profit was ₹170. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
26. 26.Arjun’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
27. 27.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
28. 28.📒 Income or expense: cash from selling plants? (a) expense (b) income
29. 29.📒 Income or expense: a card order paid? (a) expense (b) income
30. 30.Meera’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
31. 31.Nisha’s income was ₹370 and the profit was ₹120. One expense was ₹170 (stall fee). How much was the other expense, for lemons (in ₹)?
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) printing posters
33. 33.Gurpreet’s income was ₹180 and the profit was ₹60. One expense was ₹30 (card paper). How much was the other expense, for paper cups (in ₹)?
34. 34.True or false: “tutoring fees received” is income (money in). (a) False (b) True
35. 35.True or false: “buying lemons” is income (money in). (a) True (b) False
36. 36.Rohan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹140 (posters)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
37. 37.Meera’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
38. 38.Saanvi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
39. 39.Joseph’s income was ₹110 and the profit was ₹10. One expense was ₹80 (lemons). How much was the other expense, for ribbon (in ₹)?
40. 40.📒 Income or expense: bus fare to the market? (a) expense (b) income

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