Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 686 · 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.Zoya’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹530 (evening sales)
   Expense: ₹190 (sugar)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
2. 2.Diya’s income was ₹430 and the profit was ₹220. One expense was ₹140 (lemons). How much was the other expense, for ribbon (in ₹)?
3. 3.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
4. 4.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying lemons (d) payment for a cake order
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) buying paper cups
6. 6.Aarav’s income was ₹290 and the profit was ₹170. One expense was ₹20 (ribbon). How much was the other expense, for posters (in ₹)?
7. 7.Tara’s stall took in ₹320 on Friday, ₹100 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
8. 8.Kavya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹140 (card paper)
   Expense: ₹40 (lemons)
   How much is the loss (in ₹)?
9. 9.Ananya’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹40 (card paper)
   Expense: ₹120 (paper cups)
   What is the profit (in ₹)?
10. 10.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
11. 11.📒 Income or expense: printing posters? (a) income (b) expense
12. 12.📒 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
13. 13.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
14. 14.Arjun’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
15. 15.Ishaan’s record for the day:
    Income: ₹520 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
16. 16.Aarav’s stall took in ₹160 on Friday, ₹120 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “printing posters” is income (money in). (a) False (b) True
18. 18.Tara’s income was ₹310 and the profit was ₹50. One expense was ₹190 (lemons). How much was the other expense, for ribbon (in ₹)?
19. 19.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
20. 20.📒 Income or expense: money from sales? (a) income (b) expense
21. 21.Diya’s stall took in ₹200 on Friday, ₹280 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
22. 22.Rohan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
23. 23.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
24. 24.Kavya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
25. 25.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
26. 26.Ananya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) a card order paid (d) paying the stall fee
28. 28.Diya’s stall took in ₹350 on Friday, ₹330 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
29. 29.Farhan’s stall took in ₹110 on Friday, ₹260 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) buying paper cups (d) printing posters
31. 31.📒 Income or expense: paying the stall fee? (a) income (b) expense
32. 32.Farhan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹190 (posters)
    How much is the loss (in ₹)?
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
34. 34.Arjun’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
35. 35.Farhan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
36. 36.Diya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
37. 37.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
39. 39.True or false: “buying paper cups” is income (money in). (a) False (b) True
40. 40.Riya’s income was ₹140 and the profit was ₹40. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?

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