Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 491 · 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 stall took in ₹220 on Friday, ₹150 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
2. 2.Vihaan’s income was ₹240 and the profit was ₹100. One expense was ₹90 (stall fee). How much was the other expense, for sugar (in ₹)?
3. 3.Riya’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹70 (posters)
   Expense: ₹100 (sugar)
   How much is the loss (in ₹)?
4. 4.Kabir’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹60 (sugar)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
5. 5.Kavya’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹110 (paper cups)
   Expense: ₹230 (posters)
   How much is the loss (in ₹)?
6. 6.Saanvi’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹30 (paper cups)
   Expense: ₹130 (ribbon)
   How much is the loss (in ₹)?
7. 7.Gurpreet’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹130 (card paper)
   Expense: ₹30 (posters)
   What is the profit (in ₹)?
8. 8.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
10. 10.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) tutoring fees received (d) cash from selling plants
11. 11.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
14. 14.📒 Income or expense: bus fare to the market? (a) income (b) expense
15. 15.Lakshmi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
16. 16.Arjun’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
17. 17.Dev’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹50 (lemons)
    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.True or false: “a card order paid” is income (money in). (a) True (b) False
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) a card order paid (d) buying lemons
21. 21.True or false: “money from sales” is an expense (money out). (a) False (b) True
22. 22.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
23. 23.Nisha’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
24. 24.Tara’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹230 (paper cups)
    How much is the loss (in ₹)?
25. 25.Diya’s stall took in ₹400 on Friday, ₹240 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
26. 26.Gurpreet’s income was ₹220 and the profit was ₹20. One expense was ₹170 (paper cups). How much was the other expense, for transport (in ₹)?
27. 27.Saanvi’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹270 (transport)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: payment for a cake order? (a) expense (b) income
29. 29.Diya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) cash from selling plants
31. 31.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
32. 32.Meera’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
33. 33.Tara’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
34. 34.Zoya’s stall took in ₹370 on Friday, ₹130 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) payment for a cake order (d) cash from selling plants
36. 36.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) tutoring fees received (d) payment for a cake order
37. 37.Kavya’s stall took in ₹140 on Friday, ₹60 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
39. 39.Diya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) bus fare to the market (d) cash from selling plants

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