Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 650 · 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.Tara’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹180 (stall fee)
   Expense: ₹20 (paper cups)
   How much is the loss (in ₹)?
2. 2.Dev’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹10 (sugar)
   Expense: ₹260 (lemons)
   How much is the loss (in ₹)?
3. 3.Arjun’s income was ₹120 and the profit was ₹20. One expense was ₹20 (transport). How much was the other expense, for card paper (in ₹)?
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.Saanvi’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹170 (transport)
   Expense: ₹60 (ribbon)
   What is the profit (in ₹)?
6. 6.Zoya’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹60 (paper cups)
   Expense: ₹20 (sugar)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.Kabir’s income was ₹420 and the profit was ₹380. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
9. 9.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) money from sales
10. 10.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
11. 11.True or false: “buying lemons” is an expense (money out). (a) False (b) True
12. 12.📒 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
13. 13.Tara’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (transport)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
14. 14.Zoya’s stall took in ₹50 on Friday, ₹210 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
15. 15.Farhan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: cash from selling plants? (a) income (b) expense
17. 17.Rohan’s stall took in ₹380 on Friday, ₹180 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
18. 18.Saanvi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
19. 19.Kabir’s stall took in ₹280 on Friday, ₹90 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) payment for a cake order (d) buying lemons
21. 21.True or false: “money from sales” is income (money in). (a) False (b) True
22. 22.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) paying the stall fee (d) buying lemons
23. 23.Ishaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹230 (paper cups)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: buying lemons? (a) expense (b) income
25. 25.True or false: “buying lemons” is income (money in). (a) True (b) False
26. 26.📒 Income or expense: bus fare to the market? (a) income (b) expense
27. 27.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
28. 28.Saanvi’s stall took in ₹300 on Friday, ₹180 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
29. 29.Dev’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
30. 30.True or false: “payment for a cake order” is income (money in). (a) True (b) False
31. 31.Diya’s stall took in ₹280 on Friday, ₹70 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
32. 32.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
33. 33.Joseph’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹210 (transport)
    How much is the loss (in ₹)?
34. 34.Vihaan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹150 (transport)
    Expense: ₹240 (sugar)
    How much is the loss (in ₹)?
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
36. 36.Nisha’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
37. 37.Meera’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
38. 38.True or false: “a card order paid” is an expense (money out). (a) True (b) False
39. 39.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
40. 40.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) a card order paid (d) buying lemons

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