Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 487 · 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.Vihaan’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹60 (transport)
   Expense: ₹120 (posters)
   What is the profit (in ₹)?
2. 2.Rohan’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹30 (stall fee)
   Expense: ₹30 (lemons)
   How much is the loss (in ₹)?
3. 3.Gurpreet’s income was ₹380 and the profit was ₹90. One expense was ₹20 (lemons). How much was the other expense, for paper cups (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) money from sales (d) buying paper cups
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.Diya’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹200 (paper cups)
   Expense: ₹130 (card paper)
   What is the profit (in ₹)?
8. 8.Joseph’s stall took in ₹350 on Friday, ₹150 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
9. 9.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
10. 10.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹220 (posters)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: bus fare to the market? (a) expense (b) income
12. 12.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
13. 13.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) payment for a cake order
14. 14.📒 Income or expense: a card order paid? (a) expense (b) income
15. 15.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
16. 16.Aarav’s income was ₹350 and the profit was ₹310. One expense was ₹10 (transport). How much was the other expense, for posters (in ₹)?
17. 17.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) tutoring fees received
18. 18.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹210 (posters)
    Expense: ₹190 (stall fee)
    How much is the loss (in ₹)?
19. 19.True or false: “tutoring fees received” is income (money in). (a) True (b) False
20. 20.Tara’s income was ₹150 and the profit was ₹120. One expense was ₹20 (ribbon). How much was the other expense, for posters (in ₹)?
21. 21.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
22. 22.Zoya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹210 (posters)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
23. 23.Kavya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
24. 24.Saanvi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
25. 25.Vihaan’s income was ₹320 and the profit was ₹20. One expense was ₹80 (posters). How much was the other expense, for ribbon (in ₹)?
26. 26.📒 Income or expense: tutoring fees received? (a) expense (b) income
27. 27.📒 Income or expense: payment for a cake order? (a) income (b) expense
28. 28.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
29. 29.Diya’s stall took in ₹330 on Friday, ₹130 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
30. 30.Meera’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
31. 31.Saanvi’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
32. 32.Saanvi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹190 (posters)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
33. 33.Meera’s income was ₹380 and the profit was ₹30. One expense was ₹100 (sugar). How much was the other expense, for lemons (in ₹)?
34. 34.Riya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
35. 35.Ananya’s stall took in ₹350 on Friday, ₹90 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
36. 36.Diya’s stall took in ₹310 on Friday, ₹300 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “a card order paid” is an expense (money out). (a) True (b) False
38. 38.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
39. 39.Saanvi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
40. 40.Rohan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹240 (transport)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?

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