Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 693 · 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.Vihaan’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹50 (card paper)
   What is the profit (in ₹)?
2. 2.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
3. 3.Ishaan’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹20 (sugar)
   Expense: ₹130 (ribbon)
   What is the profit (in ₹)?
4. 4.Vihaan’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹90 (lemons)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
5. 5.Ishaan’s income was ₹300 and the profit was ₹10. One expense was ₹240 (stall fee). How much was the other expense, for lemons (in ₹)?
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) printing posters
7. 7.Diya’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹220 (lemons)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: printing posters? (a) expense (b) income
9. 9.Rohan’s income was ₹280 and the profit was ₹180. One expense was ₹50 (transport). How much was the other expense, for paper cups (in ₹)?
10. 10.Tara’s income was ₹240 and the profit was ₹60. One expense was ₹40 (sugar). How much was the other expense, for posters (in ₹)?
11. 11.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
12. 12.True or false: “money from sales” is income (money in). (a) True (b) False
13. 13.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) a card order paid
14. 14.True or false: “printing posters” is income (money in). (a) True (b) False
15. 15.Saanvi’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
16. 16.Gurpreet’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
17. 17.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
18. 18.True or false: “paying the stall fee” is income (money in). (a) True (b) False
19. 19.Tara’s income was ₹170 and the profit was ₹20. One expense was ₹30 (card paper). How much was the other expense, for ribbon (in ₹)?
20. 20.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) paying the stall fee
21. 21.Dev’s income was ₹400 and the profit was ₹120. One expense was ₹260 (posters). How much was the other expense, for stall fee (in ₹)?
22. 22.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
23. 23.Nisha’s income was ₹410 and the profit was ₹20. One expense was ₹170 (transport). How much was the other expense, for paper cups (in ₹)?
24. 24.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) a card order paid (d) money from sales
25. 25.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) bus fare to the market
26. 26.Vihaan’s stall took in ₹290 on Friday, ₹190 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
27. 27.Farhan’s stall took in ₹330 on Friday, ₹70 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
28. 28.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
29. 29.Riya’s stall took in ₹110 on Friday, ₹200 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
30. 30.Meera’s income was ₹300 and the profit was ₹20. One expense was ₹180 (stall fee). How much was the other expense, for card paper (in ₹)?
31. 31.Dev’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
32. 32.Zoya’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: cash from selling plants? (a) income (b) expense
34. 34.Farhan’s stall took in ₹60 on Friday, ₹160 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
35. 35.Lakshmi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
36. 36.Diya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
37. 37.Tara’s income was ₹250 and the profit was ₹220. One expense was ₹10 (paper cups). How much was the other expense, for sugar (in ₹)?
38. 38.True or false: “a card order paid” is an expense (money out). (a) True (b) False
39. 39.Tara’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: bus fare to the market? (a) expense (b) income

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