Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 689 · 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.Diya’s income was ₹210 and the profit was ₹40. One expense was ₹140 (ribbon). How much was the other expense, for lemons (in ₹)?
2. 2.Kabir’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹50 (card paper)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
3. 3.Rohan’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹110 (ribbon)
   Expense: ₹80 (lemons)
   How much is the loss (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) printing posters
6. 6.Arjun’s stall took in ₹60 on Friday, ₹280 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
7. 7.Farhan’s stall took in ₹80 on Friday, ₹340 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: buying paper cups? (a) expense (b) income
9. 9.Gurpreet’s stall took in ₹130 on Friday, ₹50 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
10. 10.Ishaan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
11. 11.Kabir’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
12. 12.Meera’s stall took in ₹90 on Friday, ₹120 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) buying lemons (d) paying the stall fee
14. 14.True or false: “money from sales” is an expense (money out). (a) True (b) False
15. 15.📒 Income or expense: payment for a cake order? (a) expense (b) income
16. 16.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
17. 17.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) a card order paid (d) tutoring fees received
18. 18.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) paying the stall fee (d) buying lemons
19. 19.📒 Income or expense: buying lemons? (a) income (b) expense
20. 20.Arjun’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
21. 21.True or false: “a card order paid” is an expense (money out). (a) True (b) False
22. 22.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
23. 23.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
24. 24.Gurpreet’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
25. 25.Zoya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: money from sales? (a) income (b) expense
27. 27.True or false: “buying lemons” is an expense (money out). (a) False (b) True
28. 28.Nisha’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹260 (lemons)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
29. 29.Rohan’s stall took in ₹110 on Friday, ₹310 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
30. 30.Zoya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
31. 31.Joseph’s stall took in ₹120 on Friday, ₹140 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “tutoring fees received” is income (money in). (a) False (b) True
33. 33.📒 Income or expense: paying the stall fee? (a) expense (b) income
34. 34.True or false: “cash from selling plants” is income (money in). (a) False (b) True
35. 35.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
36. 36.Nisha’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹250 (ribbon)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
37. 37.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) payment for a cake order (d) money from sales
38. 38.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
39. 39.Dev’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
40. 40.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying paper cups (d) cash from selling plants

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