Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 747 · 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.Saanvi’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹180 (ribbon)
   Expense: ₹50 (card paper)
   What is the profit (in ₹)?
2. 2.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) cash from selling plants (d) payment for a cake order
4. 4.Meera’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹500 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹180 (stall fee)
   What is the profit (in ₹)?
5. 5.True or false: “money from sales” is income (money in). (a) False (b) True
6. 6.True or false: “buying lemons” is income (money in). (a) True (b) False
7. 7.Diya’s income was ₹150 and the profit was ₹50. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
8. 8.📒 Income or expense: tutoring fees received? (a) expense (b) income
9. 9.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
10. 10.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
11. 11.📒 Income or expense: cash from selling plants? (a) income (b) expense
12. 12.Kabir’s income was ₹200 and the profit was ₹180. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
13. 13.📒 Income or expense: paying the stall fee? (a) income (b) expense
14. 14.Ananya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹40 (transport)
    Expense: ₹290 (stall fee)
    How much is the loss (in ₹)?
15. 15.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
16. 16.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) printing posters (d) buying paper cups
17. 17.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹200 (transport)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: buying paper cups? (a) expense (b) income
19. 19.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
20. 20.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
21. 21.Diya’s stall took in ₹370 on Friday, ₹160 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “buying paper cups” is income (money in). (a) False (b) True
23. 23.Riya’s income was ₹180 and the profit was ₹80. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
24. 24.True or false: “a card order paid” is an expense (money out). (a) True (b) False
25. 25.True or false: “money from sales” is an expense (money out). (a) True (b) False
26. 26.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) a card order paid (d) cash from selling plants
27. 27.Rohan’s income was ₹370 and the profit was ₹220. One expense was ₹60 (ribbon). How much was the other expense, for sugar (in ₹)?
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) printing posters (d) buying paper cups
29. 29.Nisha’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
30. 30.Aarav’s income was ₹410 and the profit was ₹350. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
31. 31.Lakshmi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹550 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
32. 32.Kavya’s income was ₹360 and the profit was ₹340. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
33. 33.Tara’s stall took in ₹210 on Friday, ₹340 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
34. 34.Saanvi’s stall took in ₹190 on Friday, ₹390 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
36. 36.Riya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
37. 37.Ishaan’s stall took in ₹80 on Friday, ₹240 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
38. 38.Arjun’s stall took in ₹250 on Friday, ₹120 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
39. 39.Aarav’s stall took in ₹300 on Friday, ₹60 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) cash from selling plants

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