Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 504 · 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.Riya’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹140 (ribbon)
   Expense: ₹200 (paper cups)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) money from sales (d) buying lemons
3. 3.Lakshmi’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹20 (posters)
   Expense: ₹50 (lemons)
   How much is the loss (in ₹)?
4. 4.Meera’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹90 (sugar)
   Expense: ₹170 (ribbon)
   What is the profit (in ₹)?
5. 5.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
6. 6.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) bus fare to the market (d) printing posters
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.Lakshmi’s income was ₹220 and the profit was ₹90. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
9. 9.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
10. 10.Riya’s income was ₹440 and the profit was ₹30. One expense was ₹30 (transport). How much was the other expense, for stall fee (in ₹)?
11. 11.Riya’s stall took in ₹130 on Friday, ₹120 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
12. 12.Ananya’s stall took in ₹170 on Friday, ₹260 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) bus fare to the market (d) paying the stall fee
14. 14.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying paper cups (d) cash from selling plants
15. 15.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.Zoya’s income was ₹460 and the profit was ₹310. One expense was ₹90 (stall fee). How much was the other expense, for card paper (in ₹)?
18. 18.📒 Income or expense: payment for a cake order? (a) income (b) expense
19. 19.📒 Income or expense: money from sales? (a) income (b) expense
20. 20.Gurpreet’s income was ₹100 and the profit was ₹60. One expense was ₹20 (ribbon). How much was the other expense, for posters (in ₹)?
21. 21.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
22. 22.Zoya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) paying the stall fee (d) money from sales
24. 24.Tara’s stall took in ₹210 on Friday, ₹300 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “printing posters” is income (money in). (a) False (b) True
26. 26.📒 Income or expense: tutoring fees received? (a) expense (b) income
27. 27.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
29. 29.Ishaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
30. 30.Kabir’s stall took in ₹380 on Friday, ₹320 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “paying the stall fee” is income (money in). (a) True (b) False
32. 32.Kabir’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
33. 33.True or false: “a card order paid” is an expense (money out). (a) True (b) False
34. 34.Farhan’s income was ₹110 and the profit was ₹80. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
35. 35.Farhan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
36. 36.Lakshmi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
37. 37.Vihaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹240 (sugar)
    How much is the loss (in ₹)?
38. 38.Kavya’s income was ₹150 and the profit was ₹130. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
39. 39.Lakshmi’s stall took in ₹210 on Friday, ₹70 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
40. 40.Lakshmi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?

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