Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 483 · 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.Nisha’s income was ₹120 and the profit was ₹80. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
2. 2.📒 Income or expense: money from sales? (a) expense (b) income
3. 3.Kabir’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹30 (lemons)
   Expense: ₹90 (sugar)
   What is the profit (in ₹)?
4. 4.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
7. 7.Kavya’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹260 (stall fee)
   Expense: ₹70 (transport)
   How much is the loss (in ₹)?
8. 8.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) printing posters
9. 9.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
10. 10.Tara’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
11. 11.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
12. 12.Rohan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹100 (posters)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
13. 13.Meera’s stall took in ₹380 on Friday, ₹340 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: payment for a cake order? (a) expense (b) income
15. 15.Kavya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: buying paper cups? (a) expense (b) income
17. 17.Dev’s income was ₹190 and the profit was ₹130. One expense was ₹50 (transport). How much was the other expense, for ribbon (in ₹)?
18. 18.True or false: “printing posters” is income (money in). (a) False (b) True
19. 19.Aarav’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹170 (posters)
    How much is the loss (in ₹)?
20. 20.True or false: “printing posters” is an expense (money out). (a) True (b) False
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.Ishaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹40 (posters)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
23. 23.📒 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
24. 24.📒 Income or expense: cash from selling plants? (a) income (b) expense
25. 25.Farhan’s income was ₹140 and the profit was ₹100. One expense was ₹30 (ribbon). How much was the other expense, for card paper (in ₹)?
26. 26.True or false: “cash from selling plants” is income (money in). (a) True (b) False
27. 27.Rohan’s income was ₹280 and the profit was ₹250. One expense was ₹20 (posters). How much was the other expense, for ribbon (in ₹)?
28. 28.Zoya’s stall took in ₹370 on Friday, ₹340 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “money from sales” is income (money in). (a) True (b) False
30. 30.True or false: “tutoring fees received” is income (money in). (a) False (b) True
31. 31.True or false: “buying lemons” is income (money in). (a) False (b) True
32. 32.Dev’s income was ₹160 and the profit was ₹40. One expense was ₹60 (transport). How much was the other expense, for lemons (in ₹)?
33. 33.Riya’s income was ₹470 and the profit was ₹220. One expense was ₹200 (sugar). How much was the other expense, for paper cups (in ₹)?
34. 34.Diya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹160 (ribbon)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
35. 35.Arjun’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
36. 36.Farhan’s income was ₹470 and the profit was ₹270. One expense was ₹160 (card paper). How much was the other expense, for transport (in ₹)?
37. 37.Saanvi’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
38. 38.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying lemons (d) money from sales
39. 39.Vihaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True

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