Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 506 · 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 income was ₹190 and the profit was ₹70. One expense was ₹20 (paper cups). How much was the other expense, for ribbon (in ₹)?
2. 2.Meera’s income was ₹390 and the profit was ₹290. One expense was ₹90 (paper cups). How much was the other expense, for card paper (in ₹)?
3. 3.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) bus fare to the market (d) buying lemons
4. 4.True or false: “money from sales” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: a card order paid? (a) expense (b) income
6. 6.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.Diya’s income was ₹300 and the profit was ₹60. One expense was ₹160 (sugar). How much was the other expense, for paper cups (in ₹)?
9. 9.Joseph’s income was ₹130 and the profit was ₹110. One expense was ₹10 (ribbon). How much was the other expense, for posters (in ₹)?
10. 10.True or false: “cash from selling plants” is income (money in). (a) True (b) False
11. 11.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
12. 12.True or false: “tutoring fees received” is income (money in). (a) False (b) True
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
14. 14.Diya’s income was ₹500 and the profit was ₹50. One expense was ₹310 (lemons). How much was the other expense, for transport (in ₹)?
15. 15.Saanvi’s income was ₹180 and the profit was ₹100. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
16. 16.Ananya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
17. 17.Riya’s stall took in ₹350 on Friday, ₹210 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
18. 18.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
19. 19.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) buying paper cups
20. 20.Kavya’s income was ₹460 and the profit was ₹370. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
21. 21.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) tutoring fees received (d) buying lemons
22. 22.True or false: “buying lemons” is an expense (money out). (a) True (b) False
23. 23.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
24. 24.Rohan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹80 (posters)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
25. 25.True or false: “bus fare to the market” is income (money in). (a) False (b) True
26. 26.Meera’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹210 (posters)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
27. 27.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
28. 28.Kabir’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
29. 29.True or false: “money from sales” is income (money in). (a) True (b) False
30. 30.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) money from sales (d) cash from selling plants
31. 31.Ishaan’s income was ₹350 and the profit was ₹190. One expense was ₹100 (lemons). How much was the other expense, for card paper (in ₹)?
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) tutoring fees received (d) a card order paid
33. 33.Gurpreet’s income was ₹390 and the profit was ₹220. One expense was ₹90 (lemons). How much was the other expense, for stall fee (in ₹)?
34. 34.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying lemons (d) buying paper cups
35. 35.📒 Income or expense: paying the stall fee? (a) income (b) expense
36. 36.Joseph’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
37. 37.Zoya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹190 (posters)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
38. 38.Riya’s stall took in ₹210 on Friday, ₹180 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
39. 39.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
40. 40.Rohan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹90 (posters)
    Expense: ₹270 (ribbon)
    How much is the loss (in ₹)?

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