Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 522 · 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.Ananya’s income was ₹140 and the profit was ₹30. One expense was ₹70 (posters). How much was the other expense, for sugar (in ₹)?
2. 2.Joseph’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹260 (posters)
   Expense: ₹40 (lemons)
   How much is the loss (in ₹)?
3. 3.Arjun’s income was ₹140 and the profit was ₹90. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
4. 4.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) buying paper cups (d) paying the stall fee
5. 5.Ishaan’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹70 (paper cups)
   Expense: ₹230 (card paper)
   How much is the loss (in ₹)?
6. 6.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) tutoring fees received (d) money from sales
7. 7.Nisha’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹130 (card paper)
   Expense: ₹110 (stall fee)
   What is the profit (in ₹)?
8. 8.Ananya’s stall took in ₹290 on Friday, ₹140 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
9. 9.Dev’s income was ₹360 and the profit was ₹160. One expense was ₹20 (stall fee). How much was the other expense, for paper cups (in ₹)?
10. 10.📒 Income or expense: printing posters? (a) income (b) expense
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
12. 12.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) paying the stall fee (d) printing posters
13. 13.Aarav’s income was ₹180 and the profit was ₹120. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
14. 14.📒 Income or expense: cash from selling plants? (a) income (b) expense
15. 15.True or false: “printing posters” is income (money in). (a) True (b) False
16. 16.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying lemons (d) tutoring fees received
18. 18.📒 Income or expense: payment for a cake order? (a) expense (b) income
19. 19.Ishaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹220 (card paper)
    How much is the loss (in ₹)?
20. 20.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
21. 21.Ishaan’s stall took in ₹380 on Friday, ₹170 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
22. 22.Ishaan’s stall took in ₹260 on Friday, ₹370 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
23. 23.Dev’s stall took in ₹60 on Friday, ₹150 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
24. 24.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
25. 25.Rohan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
27. 27.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
28. 28.True or false: “buying lemons” is income (money in). (a) True (b) False
29. 29.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
30. 30.Farhan’s income was ₹200 and the profit was ₹50. One expense was ₹30 (sugar). How much was the other expense, for card paper (in ₹)?
31. 31.Tara’s income was ₹330 and the profit was ₹40. One expense was ₹90 (card paper). How much was the other expense, for ribbon (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) bus fare to the market (d) printing posters
33. 33.Kabir’s stall took in ₹230 on Friday, ₹300 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
34. 34.Ishaan’s stall took in ₹290 on Friday, ₹260 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
35. 35.Zoya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
36. 36.Kabir’s income was ₹200 and the profit was ₹100. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
37. 37.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) money from sales (d) buying paper cups
38. 38.Riya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹180 (transport)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
39. 39.Saanvi’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
40. 40.Tara’s stall took in ₹300 on Friday, ₹180 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?

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