Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 80 · 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 record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹280 (posters)
   Expense: ₹90 (lemons)
   How much is the loss (in ₹)?
2. 2.Zoya’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹100 (posters)
   Expense: ₹110 (ribbon)
   What is the profit (in ₹)?
3. 3.Aarav’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹140 (stall fee)
   Expense: ₹70 (lemons)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) paying the stall fee (d) tutoring fees received
6. 6.📒 Income or expense: buying lemons? (a) expense (b) income
7. 7.Joseph’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹70 (ribbon)
   Expense: ₹30 (sugar)
   What is the profit (in ₹)?
8. 8.Ishaan’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹60 (card paper)
   Expense: ₹180 (paper cups)
   How much is the loss (in ₹)?
9. 9.Riya’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹90 (ribbon)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
10. 10.Nisha’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹210 (transport)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
11. 11.Zoya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
12. 12.Tara’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹250 (paper cups)
    How much is the loss (in ₹)?
13. 13.True or false: “printing posters” is income (money in). (a) False (b) True
14. 14.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
15. 15.Farhan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
16. 16.Gurpreet’s income was ₹160 and the profit was ₹50. One expense was ₹20 (stall fee). How much was the other expense, for transport (in ₹)?
17. 17.Kabir’s stall took in ₹70 on Friday, ₹230 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
18. 18.Zoya’s stall took in ₹310 on Friday, ₹50 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
19. 19.Zoya’s income was ₹180 and the profit was ₹70. One expense was ₹100 (paper cups). How much was the other expense, for stall fee (in ₹)?
20. 20.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
21. 21.Kabir’s income was ₹100 and the profit was ₹40. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
22. 22.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
23. 23.True or false: “cash from selling plants” is income (money in). (a) True (b) False
24. 24.Rohan’s income was ₹450 and the profit was ₹310. One expense was ₹70 (transport). How much was the other expense, for lemons (in ₹)?
25. 25.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
26. 26.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
27. 27.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) bus fare to the market (d) cash from selling plants
28. 28.Gurpreet’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: payment for a cake order? (a) income (b) expense
30. 30.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
31. 31.Gurpreet’s income was ₹150 and the profit was ₹130. One expense was ₹10 (ribbon). How much was the other expense, for sugar (in ₹)?
32. 32.Farhan’s stall took in ₹50 on Friday, ₹400 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) money from sales (d) payment for a cake order
34. 34.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹200 (transport)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
35. 35.Diya’s stall took in ₹170 on Friday, ₹60 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “tutoring fees received” is income (money in). (a) False (b) True
37. 37.📒 Income or expense: printing posters? (a) income (b) expense
38. 38.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
39. 39.Zoya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹40 (transport)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
40. 40.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying paper cups (d) buying lemons

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