Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 758 · 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.Aarav’s income was ₹480 and the profit was ₹90. One expense was ₹170 (transport). How much was the other expense, for paper cups (in ₹)?
2. 2.Dev’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹220 (lemons)
   Expense: ₹110 (card paper)
   How much is the loss (in ₹)?
3. 3.Ananya’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹190 (transport)
   Expense: ₹50 (lemons)
   What is the profit (in ₹)?
4. 4.True or false: “buying lemons” is income (money in). (a) True (b) False
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) tutoring fees received (d) money from sales
6. 6.📒 Income or expense: bus fare to the market? (a) income (b) expense
7. 7.📒 Income or expense: buying paper cups? (a) income (b) expense
8. 8.Gurpreet’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹80 (sugar)
   Expense: ₹260 (lemons)
   How much is the loss (in ₹)?
9. 9.Ishaan’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹60 (sugar)
   Expense: ₹70 (stall fee)
   What is the profit (in ₹)?
10. 10.True or false: “money from sales” is an expense (money out). (a) True (b) False
11. 11.Arjun’s income was ₹460 and the profit was ₹50. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
12. 12.Kavya’s income was ₹330 and the profit was ₹260. One expense was ₹40 (card paper). How much was the other expense, for stall fee (in ₹)?
13. 13.Diya’s stall took in ₹170 on Friday, ₹220 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
15. 15.Farhan’s stall took in ₹400 on Friday, ₹90 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “money from sales” is income (money in). (a) True (b) False
17. 17.📒 Income or expense: printing posters? (a) expense (b) income
18. 18.📒 Income or expense: buying lemons? (a) expense (b) income
19. 19.Joseph’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
20. 20.Zoya’s stall took in ₹300 on Friday, ₹320 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
21. 21.📒 Income or expense: a card order paid? (a) income (b) expense
22. 22.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
23. 23.Saanvi’s stall took in ₹150 on Friday, ₹220 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
24. 24.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
25. 25.Riya’s stall took in ₹170 on Friday, ₹180 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) buying lemons (d) tutoring fees received
27. 27.Meera’s income was ₹270 and the profit was ₹50. One expense was ₹210 (sugar). How much was the other expense, for stall fee (in ₹)?
28. 28.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.Which of these is income (money in)? (a) money from sales (b) printing posters (c) paying the stall fee (d) buying paper cups
31. 31.📒 Income or expense: paying the stall fee? (a) income (b) expense
32. 32.Rohan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹50 (transport)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
33. 33.Dev’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
34. 34.Nisha’s income was ₹190 and the profit was ₹60. One expense was ₹100 (stall fee). How much was the other expense, for lemons (in ₹)?
35. 35.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
36. 36.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) payment for a cake order (d) a card order paid
37. 37.True or false: “buying lemons” is an expense (money out). (a) True (b) False
38. 38.Riya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
39. 39.Lakshmi’s stall took in ₹90 on Friday, ₹130 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying lemons (d) paying the stall fee

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