Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 783 · 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: ₹100 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹160 (card paper)
   What is the profit (in ₹)?
2. 2.Joseph’s stall took in ₹330 on Friday, ₹130 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
3. 3.Rohan’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹170 (stall fee)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) tutoring fees received
5. 5.True or false: “paying the stall fee” is income (money in). (a) True (b) False
6. 6.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
7. 7.Aarav’s income was ₹250 and the profit was ₹170. One expense was ₹60 (sugar). How much was the other expense, for lemons (in ₹)?
8. 8.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) cash from selling plants
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) tutoring fees received (d) paying the stall fee
11. 11.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) buying paper cups (d) printing posters
12. 12.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) money from sales (d) paying the stall fee
13. 13.Farhan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
14. 14.True or false: “tutoring fees received” is income (money in). (a) True (b) False
15. 15.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
16. 16.Dev’s stall took in ₹290 on Friday, ₹330 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
17. 17.Dev’s stall took in ₹270 on Friday, ₹340 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
18. 18.Gurpreet’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹170 (posters)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
19. 19.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
20. 20.Diya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹80 (posters)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
21. 21.Nisha’s stall took in ₹120 on Friday, ₹140 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
22. 22.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
23. 23.Nisha’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: printing posters? (a) income (b) expense
25. 25.Aarav’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
26. 26.Dev’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹250 (paper cups)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
27. 27.True or false: “printing posters” is income (money in). (a) False (b) True
28. 28.Kabir’s income was ₹180 and the profit was ₹50. One expense was ₹100 (posters). How much was the other expense, for paper cups (in ₹)?
29. 29.Saanvi’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
30. 30.Kabir’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹150 (card paper)
    How much is the loss (in ₹)?
31. 31.Vihaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹210 (sugar)
    How much is the loss (in ₹)?
32. 32.Farhan’s stall took in ₹160 on Friday, ₹310 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Farhan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
35. 35.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
36. 36.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
37. 37.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
38. 38.Gurpreet’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
39. 39.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) a card order paid
40. 40.Farhan’s income was ₹170 and the profit was ₹50. One expense was ₹40 (paper cups). How much was the other expense, for card paper (in ₹)?

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