Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 47 · 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 income was ₹140 and the profit was ₹60. One expense was ₹20 (ribbon). How much was the other expense, for card paper (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
3. 3.Gurpreet’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹60 (lemons)
   Expense: ₹190 (stall fee)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.Meera’s stall took in ₹400 on Friday, ₹200 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
6. 6.Kabir’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹40 (lemons)
   Expense: ₹110 (sugar)
   What is the profit (in ₹)?
7. 7.True or false: “buying lemons” is an expense (money out). (a) False (b) True
8. 8.Joseph’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹130 (paper cups)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
9. 9.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
10. 10.Riya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
11. 11.Nisha’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
12. 12.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
13. 13.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
14. 14.Ananya’s stall took in ₹370 on Friday, ₹50 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
15. 15.Kabir’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: printing posters? (a) expense (b) income
17. 17.Ananya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
18. 18.True or false: “a card order paid” is an expense (money out). (a) False (b) True
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.Meera’s income was ₹490 and the profit was ₹340. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
21. 21.Ananya’s income was ₹340 and the profit was ₹290. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
22. 22.True or false: “a card order paid” is income (money in). (a) False (b) True
23. 23.Arjun’s stall took in ₹100 on Friday, ₹380 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “tutoring fees received” is income (money in). (a) True (b) False
25. 25.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) bus fare to the market (d) tutoring fees received
26. 26.📒 Income or expense: buying lemons? (a) expense (b) income
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.Arjun’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
29. 29.True or false: “money from sales” is income (money in). (a) False (b) True
30. 30.Meera’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
31. 31.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
32. 32.True or false: “money from sales” is an expense (money out). (a) False (b) True
33. 33.Diya’s income was ₹380 and the profit was ₹90. One expense was ₹130 (sugar). How much was the other expense, for transport (in ₹)?
34. 34.Tara’s income was ₹150 and the profit was ₹120. One expense was ₹20 (lemons). How much was the other expense, for ribbon (in ₹)?
35. 35.Joseph’s stall took in ₹330 on Friday, ₹140 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: a card order paid? (a) income (b) expense
37. 37.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) printing posters (d) paying the stall fee
38. 38.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) printing posters (d) payment for a cake order
39. 39.📒 Income or expense: paying the stall fee? (a) expense (b) income
40. 40.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹340 (sugar)
    How much is the loss (in ₹)?

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