Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 497 · 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.Ishaan’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹160 (stall fee)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
2. 2.Lakshmi’s stall took in ₹110 on Friday, ₹170 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
3. 3.Rohan’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹30 (lemons)
   Expense: ₹120 (transport)
   What is the profit (in ₹)?
4. 4.Kavya’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹160 (posters)
   Expense: ₹80 (stall fee)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: money from sales? (a) expense (b) income
6. 6.📒 Income or expense: paying the stall fee? (a) income (b) expense
7. 7.Kabir’s stall took in ₹70 on Friday, ₹120 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) a card order paid (d) bus fare to the market
9. 9.Ishaan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹130 (ribbon)
   Expense: ₹170 (card paper)
   What is the profit (in ₹)?
10. 10.Nisha’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
11. 11.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) money from sales (d) buying lemons
12. 12.Diya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
13. 13.Dev’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹290 (sugar)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
14. 14.True or false: “printing posters” is an expense (money out). (a) True (b) False
15. 15.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
16. 16.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
17. 17.Tara’s income was ₹160 and the profit was ₹140. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
18. 18.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) paying the stall fee
19. 19.True or false: “cash from selling plants” is income (money in). (a) True (b) False
20. 20.Lakshmi’s income was ₹120 and the profit was ₹50. One expense was ₹60 (stall fee). How much was the other expense, for paper cups (in ₹)?
21. 21.True or false: “buying paper cups” is income (money in). (a) False (b) True
22. 22.Farhan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: buying lemons? (a) expense (b) income
24. 24.Riya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
25. 25.Meera’s income was ₹100 and the profit was ₹70. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) printing posters (d) money from sales
27. 27.Lakshmi’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
28. 28.True or false: “a card order paid” is income (money in). (a) False (b) True
29. 29.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (posters)
    Expense: ₹250 (lemons)
    How much is the loss (in ₹)?
30. 30.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
31. 31.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹140 (posters)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
32. 32.Joseph’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
33. 33.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
34. 34.Arjun’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹130 (posters)
    Expense: ₹170 (lemons)
    How much is the loss (in ₹)?
35. 35.True or false: “payment for a cake order” is income (money in). (a) False (b) True
36. 36.Ananya’s stall took in ₹140 on Friday, ₹180 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: printing posters? (a) expense (b) income
38. 38.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
39. 39.Saanvi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹120 (transport)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
40. 40.Farhan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹300 (paper cups)
    How much is the loss (in ₹)?

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