Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 710 · 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.Ananya’s income was ₹480 and the profit was ₹420. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
2. 2.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
3. 3.Zoya’s stall took in ₹190 on Friday, ₹280 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
4. 4.Vihaan’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹90 (ribbon)
   Expense: ₹150 (paper cups)
   How much is the loss (in ₹)?
5. 5.True or false: “buying lemons” is income (money in). (a) True (b) False
6. 6.Rohan’s stall took in ₹280 on Friday, ₹360 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.📒 Income or expense: a card order paid? (a) expense (b) income
9. 9.True or false: “money from sales” is an expense (money out). (a) False (b) True
10. 10.📒 Income or expense: paying the stall fee? (a) expense (b) income
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) buying lemons
12. 12.True or false: “money from sales” is income (money in). (a) True (b) False
13. 13.Ananya’s stall took in ₹320 on Friday, ₹390 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
14. 14.Rohan’s income was ₹440 and the profit was ₹80. One expense was ₹130 (sugar). How much was the other expense, for paper cups (in ₹)?
15. 15.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
16. 16.Joseph’s income was ₹210 and the profit was ₹20. One expense was ₹20 (ribbon). How much was the other expense, for transport (in ₹)?
17. 17.Joseph’s income was ₹270 and the profit was ₹230. One expense was ₹10 (transport). How much was the other expense, for sugar (in ₹)?
18. 18.📒 Income or expense: money from sales? (a) expense (b) income
19. 19.Ishaan’s income was ₹340 and the profit was ₹130. One expense was ₹150 (ribbon). How much was the other expense, for sugar (in ₹)?
20. 20.True or false: “bus fare to the market” is income (money in). (a) False (b) True
21. 21.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) buying lemons
22. 22.True or false: “a card order paid” is income (money in). (a) False (b) True
23. 23.Zoya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
24. 24.Kabir’s income was ₹200 and the profit was ₹50. One expense was ₹120 (ribbon). How much was the other expense, for lemons (in ₹)?
25. 25.Gurpreet’s income was ₹370 and the profit was ₹240. One expense was ₹80 (sugar). How much was the other expense, for posters (in ₹)?
26. 26.True or false: “buying lemons” is an expense (money out). (a) True (b) False
27. 27.Lakshmi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹220 (transport)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
28. 28.Riya’s stall took in ₹390 on Friday, ₹230 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
29. 29.Dev’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
30. 30.Kavya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
31. 31.Tara’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹270 (sugar)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
32. 32.Riya’s stall took in ₹80 on Friday, ₹270 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
33. 33.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
34. 34.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) bus fare to the market (d) printing posters
35. 35.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) a card order paid (d) payment for a cake order
36. 36.Gurpreet’s stall took in ₹280 on Friday, ₹60 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
37. 37.Tara’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
38. 38.Gurpreet’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹210 (stall fee)
    How much is the loss (in ₹)?
39. 39.Zoya’s stall took in ₹280 on Friday, ₹140 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) payment for a cake order (d) a card order paid

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