Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 574 · 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.Rohan’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹40 (lemons)
   Expense: ₹110 (transport)
   How much is the loss (in ₹)?
2. 2.Gurpreet’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹150 (transport)
   Expense: ₹130 (card paper)
   What is the profit (in ₹)?
3. 3.Meera’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹530 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹160 (stall fee)
   What is the profit (in ₹)?
4. 4.Lakshmi’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹50 (card paper)
   How much is the loss (in ₹)?
5. 5.Riya’s stall took in ₹170 on Friday, ₹210 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “paying the stall fee” is income (money in). (a) False (b) True
7. 7.True or false: “bus fare to the market” is income (money in). (a) True (b) False
8. 8.True or false: “printing posters” is an expense (money out). (a) False (b) True
9. 9.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
10. 10.Kavya’s stall took in ₹220 on Friday, ₹360 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
11. 11.Aarav’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
12. 12.Ananya’s income was ₹320 and the profit was ₹30. One expense was ₹240 (posters). How much was the other expense, for transport (in ₹)?
13. 13.Dev’s stall took in ₹260 on Friday, ₹290 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
14. 14.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
15. 15.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
16. 16.Tara’s income was ₹500 and the profit was ₹440. One expense was ₹20 (transport). How much was the other expense, for lemons (in ₹)?
17. 17.Riya’s stall took in ₹170 on Friday, ₹60 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) a card order paid (d) tutoring fees received
19. 19.Kabir’s income was ₹260 and the profit was ₹130. One expense was ₹70 (transport). How much was the other expense, for card paper (in ₹)?
20. 20.📒 Income or expense: money from sales? (a) expense (b) income
21. 21.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) a card order paid (d) money from sales
22. 22.Ananya’s stall took in ₹50 on Friday, ₹390 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
23. 23.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
24. 24.📒 Income or expense: a card order paid? (a) income (b) expense
25. 25.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
26. 26.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) buying lemons
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.📒 Income or expense: paying the stall fee? (a) income (b) expense
29. 29.Riya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) tutoring fees received
31. 31.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
32. 32.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) cash from selling plants (d) buying lemons
33. 33.Zoya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
34. 34.True or false: “a card order paid” is an expense (money out). (a) False (b) True
35. 35.True or false: “printing posters” is income (money in). (a) True (b) False
36. 36.Joseph’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
37. 37.Aarav’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
38. 38.True or false: “money from sales” is an expense (money out). (a) True (b) False
39. 39.Kabir’s stall took in ₹370 on Friday, ₹150 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
40. 40.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?

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