Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 703 · 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 the day:
   Income: ₹70 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹100 (posters)
   What is the profit (in ₹)?
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.Zoya’s income was ₹180 and the profit was ₹10. One expense was ₹40 (stall fee). How much was the other expense, for transport (in ₹)?
4. 4.📒 Income or expense: printing posters? (a) income (b) expense
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
6. 6.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
7. 7.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
8. 8.Vihaan’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹10 (posters)
   Expense: ₹70 (paper cups)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) a card order paid (d) bus fare to the market
10. 10.Farhan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
11. 11.True or false: “a card order paid” is income (money in). (a) True (b) False
12. 12.Riya’s stall took in ₹390 on Friday, ₹220 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “buying lemons” is income (money in). (a) True (b) False
14. 14.Diya’s income was ₹160 and the profit was ₹70. One expense was ₹50 (card paper). How much was the other expense, for stall fee (in ₹)?
15. 15.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
16. 16.Vihaan’s income was ₹290 and the profit was ₹50. One expense was ₹140 (stall fee). How much was the other expense, for posters (in ₹)?
17. 17.True or false: “bus fare to the market” is income (money in). (a) False (b) True
18. 18.Meera’s stall took in ₹60 on Friday, ₹230 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: bus fare to the market? (a) income (b) expense
20. 20.Aarav’s income was ₹150 and the profit was ₹80. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) money from sales (d) printing posters
22. 22.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) buying paper cups
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) cash from selling plants (d) payment for a cake order
24. 24.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) a card order paid (d) tutoring fees received
25. 25.True or false: “printing posters” is an expense (money out). (a) False (b) True
26. 26.Tara’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
27. 27.Rohan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
28. 28.Joseph’s income was ₹420 and the profit was ₹60. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
29. 29.Riya’s income was ₹410 and the profit was ₹30. One expense was ₹150 (lemons). How much was the other expense, for posters (in ₹)?
30. 30.📒 Income or expense: buying lemons? (a) income (b) expense
31. 31.Tara’s stall took in ₹60 on Friday, ₹90 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) printing posters
33. 33.Ananya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
34. 34.Zoya’s stall took in ₹340 on Friday, ₹70 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
35. 35.Dev’s income was ₹230 and the profit was ₹100. One expense was ₹40 (sugar). How much was the other expense, for ribbon (in ₹)?
36. 36.Saanvi’s income was ₹380 and the profit was ₹320. One expense was ₹20 (sugar). How much was the other expense, for lemons (in ₹)?
37. 37.Saanvi’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹220 (stall fee)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
38. 38.True or false: “buying lemons” is an expense (money out). (a) True (b) False
39. 39.Diya’s stall took in ₹250 on Friday, ₹120 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
40. 40.Ananya’s stall took in ₹270 on Friday, ₹330 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?

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