Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 593 · 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.Kabir’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹60 (paper cups)
   What is the profit (in ₹)?
2. 2.True or false: “tutoring fees received” is income (money in). (a) True (b) False
3. 3.Diya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹130 (paper cups)
   How much is the loss (in ₹)?
4. 4.True or false: “a card order paid” is an expense (money out). (a) False (b) True
5. 5.Ananya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹100 (sugar)
   Expense: ₹140 (paper cups)
   What is the profit (in ₹)?
6. 6.Meera’s stall took in ₹270 on Friday, ₹50 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
7. 7.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
8. 8.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
9. 9.Tara’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹90 (transport)
   Expense: ₹130 (stall fee)
   How much is the loss (in ₹)?
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) tutoring fees received
11. 11.Joseph’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
12. 12.Arjun’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹200 (ribbon)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
14. 14.True or false: “bus fare to the market” is income (money in). (a) False (b) True
15. 15.Tara’s stall took in ₹260 on Friday, ₹90 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “payment for a cake order” is income (money in). (a) False (b) True
17. 17.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
18. 18.Ishaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹200 (ribbon)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
19. 19.Saanvi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
20. 20.Riya’s income was ₹210 and the profit was ₹160. One expense was ₹40 (stall fee). How much was the other expense, for lemons (in ₹)?
21. 21.Dev’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
22. 22.Nisha’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) buying paper cups
24. 24.Dev’s stall took in ₹70 on Friday, ₹180 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) a card order paid (d) buying lemons
26. 26.Diya’s income was ₹110 and the profit was ₹60. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
27. 27.📒 Income or expense: buying paper cups? (a) income (b) expense
28. 28.True or false: “printing posters” is income (money in). (a) False (b) True
29. 29.Lakshmi’s stall took in ₹190 on Friday, ₹140 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
30. 30.Joseph’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
31. 31.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) money from sales (d) bus fare to the market
33. 33.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) paying the stall fee (d) bus fare to the market
34. 34.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
35. 35.Joseph’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹30 (posters)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
36. 36.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) money from sales (d) a card order paid
37. 37.True or false: “printing posters” is an expense (money out). (a) False (b) True
38. 38.📒 Income or expense: paying the stall fee? (a) income (b) expense
39. 39.📒 Income or expense: a card order paid? (a) expense (b) income
40. 40.Aarav’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?

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