Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 513 · 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 ₹490 and the profit was ₹190. One expense was ₹90 (card paper). How much was the other expense, for lemons (in ₹)?
2. 2.📒 Income or expense: printing posters? (a) expense (b) income
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
4. 4.Riya’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹60 (stall fee)
   What is the profit (in ₹)?
5. 5.Farhan’s income was ₹490 and the profit was ₹340. One expense was ₹70 (posters). How much was the other expense, for transport (in ₹)?
6. 6.Dev’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹20 (paper cups)
   Expense: ₹200 (ribbon)
   What is the profit (in ₹)?
7. 7.Kavya’s stall took in ₹90 on Friday, ₹220 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “printing posters” is income (money in). (a) True (b) False
9. 9.Ananya’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹200 (stall fee)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
10. 10.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
11. 11.Riya’s stall took in ₹310 on Friday, ₹120 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: a card order paid? (a) income (b) expense
13. 13.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
14. 14.Lakshmi’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
15. 15.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
16. 16.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
17. 17.True or false: “printing posters” is an expense (money out). (a) True (b) False
18. 18.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) payment for a cake order (d) buying paper cups
19. 19.Ishaan’s income was ₹110 and the profit was ₹70. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Joseph’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
22. 22.Farhan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
23. 23.Dev’s stall took in ₹310 on Friday, ₹350 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
24. 24.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
25. 25.True or false: “money from sales” is income (money in). (a) False (b) True
26. 26.Lakshmi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) a card order paid (d) money from sales
28. 28.True or false: “cash from selling plants” is income (money in). (a) True (b) False
29. 29.📒 Income or expense: bus fare to the market? (a) expense (b) income
30. 30.True or false: “buying paper cups” is income (money in). (a) False (b) True
31. 31.Gurpreet’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹220 (transport)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
32. 32.Diya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
33. 33.Riya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: tutoring fees received? (a) income (b) expense
35. 35.Farhan’s stall took in ₹120 on Friday, ₹390 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
36. 36.Farhan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (transport)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
37. 37.Saanvi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
38. 38.Farhan’s income was ₹370 and the profit was ₹270. One expense was ₹80 (transport). How much was the other expense, for ribbon (in ₹)?
39. 39.Kabir’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
40. 40.Kavya’s income was ₹250 and the profit was ₹120. One expense was ₹80 (paper cups). How much was the other expense, for card paper (in ₹)?

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