Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 808 · 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.Riya’s income was ₹290 and the profit was ₹190. One expense was ₹30 (posters). How much was the other expense, for transport (in ₹)?
2. 2.True or false: “money from sales” is income (money in). (a) False (b) True
3. 3.📒 Income or expense: a card order paid? (a) expense (b) income
4. 4.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
5. 5.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
6. 6.Meera’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹20 (lemons)
   Expense: ₹80 (ribbon)
   What is the profit (in ₹)?
7. 7.Ishaan’s income was ₹190 and the profit was ₹120. One expense was ₹20 (paper cups). How much was the other expense, for lemons (in ₹)?
8. 8.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) bus fare to the market (d) buying lemons
9. 9.Kabir’s stall took in ₹130 on Friday, ₹100 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
10. 10.Zoya’s stall took in ₹50 on Friday, ₹320 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
11. 11.Rohan’s stall took in ₹70 on Friday, ₹160 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
12. 12.Arjun’s income was ₹340 and the profit was ₹100. One expense was ₹80 (transport). How much was the other expense, for ribbon (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.Ishaan’s income was ₹500 and the profit was ₹430. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
15. 15.Riya’s income was ₹130 and the profit was ₹50. One expense was ₹40 (posters). How much was the other expense, for sugar (in ₹)?
16. 16.True or false: “money from sales” is an expense (money out). (a) False (b) True
17. 17.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) cash from selling plants (d) a card order paid
20. 20.Kabir’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: payment for a cake order? (a) income (b) expense
22. 22.Diya’s income was ₹350 and the profit was ₹100. One expense was ₹20 (stall fee). How much was the other expense, for transport (in ₹)?
23. 23.Lakshmi’s stall took in ₹140 on Friday, ₹280 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
24. 24.Vihaan’s stall took in ₹200 on Friday, ₹390 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: tutoring fees received? (a) income (b) expense
26. 26.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
27. 27.Meera’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
28. 28.True or false: “paying the stall fee” is income (money in). (a) False (b) True
29. 29.Ananya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
30. 30.Ananya’s stall took in ₹70 on Friday, ₹230 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
31. 31.Rohan’s income was ₹200 and the profit was ₹30. One expense was ₹100 (posters). How much was the other expense, for lemons (in ₹)?
32. 32.Meera’s stall took in ₹240 on Friday, ₹310 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
34. 34.📒 Income or expense: buying paper cups? (a) expense (b) income
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.Tara’s income was ₹330 and the profit was ₹10. One expense was ₹30 (transport). How much was the other expense, for ribbon (in ₹)?
37. 37.Diya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
38. 38.Farhan’s income was ₹180 and the profit was ₹90. One expense was ₹80 (transport). How much was the other expense, for posters (in ₹)?
39. 39.Meera’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) printing posters (d) cash from selling plants

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