Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 7 · 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.Rohan’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹100 (transport)
   Expense: ₹30 (lemons)
   How much is the loss (in ₹)?
2. 2.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) a card order paid (d) tutoring fees received
3. 3.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) payment for a cake order (d) tutoring fees received
4. 4.True or false: “paying the stall fee” is income (money in). (a) False (b) True
5. 5.Meera’s stall took in ₹60 on Friday, ₹190 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) tutoring fees received
7. 7.Tara’s income was ₹130 and the profit was ₹60. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
8. 8.📒 Income or expense: payment for a cake order? (a) expense (b) income
9. 9.📒 Income or expense: printing posters? (a) income (b) expense
10. 10.Nisha’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
11. 11.True or false: “money from sales” is income (money in). (a) False (b) True
12. 12.Saanvi’s stall took in ₹300 on Friday, ₹300 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “buying lemons” is income (money in). (a) False (b) True
14. 14.Saanvi’s income was ₹130 and the profit was ₹70. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?
15. 15.Meera’s income was ₹340 and the profit was ₹110. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
16. 16.Kavya’s income was ₹120 and the profit was ₹30. One expense was ₹70 (stall fee). How much was the other expense, for paper cups (in ₹)?
17. 17.Rohan’s stall took in ₹210 on Friday, ₹170 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
20. 20.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
21. 21.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
22. 22.True or false: “payment for a cake order” is income (money in). (a) True (b) False
23. 23.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (posters)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?
24. 24.Ananya’s income was ₹490 and the profit was ₹10. One expense was ₹460 (paper cups). How much was the other expense, for posters (in ₹)?
25. 25.Kabir’s income was ₹500 and the profit was ₹400. One expense was ₹70 (paper cups). How much was the other expense, for posters (in ₹)?
26. 26.Diya’s income was ₹180 and the profit was ₹60. One expense was ₹90 (stall fee). How much was the other expense, for transport (in ₹)?
27. 27.Ananya’s stall took in ₹280 on Friday, ₹400 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
28. 28.Lakshmi’s stall took in ₹290 on Friday, ₹240 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) buying paper cups (d) buying lemons
30. 30.Kavya’s income was ₹360 and the profit was ₹40. One expense was ₹100 (ribbon). How much was the other expense, for posters (in ₹)?
31. 31.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) a card order paid (d) money from sales
32. 32.Aarav’s income was ₹270 and the profit was ₹210. One expense was ₹50 (posters). How much was the other expense, for sugar (in ₹)?
33. 33.Joseph’s stall took in ₹100 on Friday, ₹310 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
34. 34.Aarav’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
35. 35.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
36. 36.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
37. 37.Arjun’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
38. 38.Meera’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹250 (lemons)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
39. 39.Ananya’s stall took in ₹210 on Friday, ₹140 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) tutoring fees received (d) bus fare to the market

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