Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 57 · 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.Saanvi’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹10 (lemons)
   Expense: ₹160 (paper cups)
   How much is the loss (in ₹)?
2. 2.Kabir’s income was ₹360 and the profit was ₹10. One expense was ₹110 (stall fee). How much was the other expense, for paper cups (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
4. 4.Riya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹200 (ribbon)
   Expense: ₹70 (paper cups)
   How much is the loss (in ₹)?
5. 5.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
6. 6.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
7. 7.Lakshmi’s income was ₹300 and the profit was ₹270. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
8. 8.Arjun’s stall took in ₹270 on Friday, ₹330 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
9. 9.Dev’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹150 (transport)
   Expense: ₹80 (sugar)
   How much is the loss (in ₹)?
10. 10.Vihaan’s income was ₹210 and the profit was ₹100. One expense was ₹60 (stall fee). How much was the other expense, for lemons (in ₹)?
11. 11.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
12. 12.Dev’s record for the day:
    Income: ₹560 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
13. 13.Vihaan’s stall took in ₹250 on Friday, ₹250 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
14. 14.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
15. 15.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) a card order paid
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
18. 18.Zoya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
19. 19.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying lemons (d) paying the stall fee
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) payment for a cake order (d) buying paper cups
21. 21.Tara’s stall took in ₹80 on Friday, ₹140 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “money from sales” is an expense (money out). (a) False (b) True
23. 23.Vihaan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
24. 24.Kavya’s stall took in ₹130 on Friday, ₹320 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) tutoring fees received (d) payment for a cake order
26. 26.Diya’s income was ₹440 and the profit was ₹50. One expense was ₹70 (ribbon). How much was the other expense, for transport (in ₹)?
27. 27.True or false: “bus fare to the market” is income (money in). (a) False (b) True
28. 28.Vihaan’s stall took in ₹280 on Friday, ₹330 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
29. 29.Kabir’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
30. 30.True or false: “buying lemons” is income (money in). (a) False (b) True
31. 31.Joseph’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹180 (ribbon)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
32. 32.Kabir’s stall took in ₹280 on Friday, ₹230 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
33. 33.Ananya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: printing posters? (a) income (b) expense
35. 35.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
36. 36.True or false: “paying the stall fee” is income (money in). (a) True (b) False
37. 37.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order
38. 38.Gurpreet’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
39. 39.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
40. 40.Diya’s income was ₹110 and the profit was ₹60. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?

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