Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 669 · 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.Kavya’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹380 (evening sales)
   Expense: ₹200 (paper cups)
   Expense: ₹40 (card paper)
   What is the profit (in ₹)?
2. 2.Ananya’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
3. 3.Riya’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹180 (card paper)
   Expense: ₹50 (stall fee)
   What is the profit (in ₹)?
4. 4.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) money from sales (d) bus fare to the market
5. 5.Diya’s stall took in ₹220 on Friday, ₹220 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.Riya’s income was ₹150 and the profit was ₹130. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
7. 7.Joseph’s income was ₹460 and the profit was ₹40. One expense was ₹110 (lemons). How much was the other expense, for paper cups (in ₹)?
8. 8.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
9. 9.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
10. 10.Joseph’s income was ₹110 and the profit was ₹80. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
11. 11.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) buying lemons (d) paying the stall fee
12. 12.True or false: “money from sales” is income (money in). (a) False (b) True
13. 13.Arjun’s income was ₹150 and the profit was ₹130. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
14. 14.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) tutoring fees received
15. 15.Gurpreet’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: money from sales? (a) expense (b) income
17. 17.Lakshmi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.Diya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
20. 20.📒 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
21. 21.Meera’s income was ₹170 and the profit was ₹70. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
22. 22.True or false: “bus fare to the market” is income (money in). (a) False (b) True
23. 23.Saanvi’s income was ₹120 and the profit was ₹80. One expense was ₹10 (sugar). How much was the other expense, for transport (in ₹)?
24. 24.Ananya’s stall took in ₹70 on Friday, ₹380 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
25. 25.Zoya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
26. 26.Diya’s stall took in ₹120 on Friday, ₹240 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
27. 27.Farhan’s stall took in ₹390 on Friday, ₹80 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
28. 28.Meera’s stall took in ₹210 on Friday, ₹230 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: buying lemons? (a) income (b) expense
30. 30.True or false: “buying lemons” is an expense (money out). (a) True (b) False
31. 31.Dev’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹340 (paper cups)
    How much is the loss (in ₹)?
32. 32.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying paper cups (d) payment for a cake order
33. 33.True or false: “buying lemons” is income (money in). (a) True (b) False
34. 34.Diya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
35. 35.Aarav’s stall took in ₹120 on Friday, ₹200 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “tutoring fees received” is income (money in). (a) True (b) False
37. 37.Diya’s income was ₹320 and the profit was ₹90. One expense was ₹110 (lemons). How much was the other expense, for transport (in ₹)?
38. 38.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) payment for a cake order
40. 40.Tara’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?

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