Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 502 · 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.Kavya’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹50 (card paper)
   Expense: ₹160 (lemons)
   How much is the loss (in ₹)?
2. 2.Lakshmi’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹130 (paper cups)
   Expense: ₹90 (transport)
   What is the profit (in ₹)?
3. 3.Dev’s income was ₹320 and the profit was ₹30. One expense was ₹270 (paper cups). How much was the other expense, for sugar (in ₹)?
4. 4.Meera’s income was ₹260 and the profit was ₹220. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
5. 5.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) money from sales (d) tutoring fees received
6. 6.Riya’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹150 (ribbon)
   Expense: ₹60 (stall fee)
   How much is the loss (in ₹)?
7. 7.True or false: “a card order paid” is income (money in). (a) False (b) True
8. 8.Joseph’s income was ₹410 and the profit was ₹230. One expense was ₹100 (sugar). How much was the other expense, for posters (in ₹)?
9. 9.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
10. 10.📒 Income or expense: money from sales? (a) expense (b) income
11. 11.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
12. 12.True or false: “payment for a cake order” is income (money in). (a) False (b) True
13. 13.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
14. 14.📒 Income or expense: a card order paid? (a) income (b) expense
15. 15.Zoya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
16. 16.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) cash from selling plants (d) buying paper cups
17. 17.Meera’s stall took in ₹200 on Friday, ₹100 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) bus fare to the market
19. 19.True or false: “cash from selling plants” is income (money in). (a) False (b) True
20. 20.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) bus fare to the market (d) buying lemons
21. 21.📒 Income or expense: tutoring fees received? (a) expense (b) income
22. 22.📒 Income or expense: cash from selling plants? (a) income (b) expense
23. 23.Nisha’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
24. 24.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
25. 25.Ananya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
26. 26.Rohan’s stall took in ₹100 on Friday, ₹170 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “money from sales” is income (money in). (a) False (b) True
28. 28.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (posters)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
29. 29.Kabir’s stall took in ₹90 on Friday, ₹180 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) printing posters
31. 31.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
32. 32.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
33. 33.Dev’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
34. 34.Ananya’s stall took in ₹310 on Friday, ₹220 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “printing posters” is an expense (money out). (a) False (b) True
36. 36.Aarav’s stall took in ₹160 on Friday, ₹160 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
37. 37.Dev’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: buying lemons? (a) expense (b) income
39. 39.Kavya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
40. 40.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy

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