Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 811 · 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.Gurpreet’s income was ₹190 and the profit was ₹160. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
2. 2.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
3. 3.📒 Income or expense: tutoring fees received? (a) expense (b) income
4. 4.Ishaan’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹50 (transport)
   What is the profit (in ₹)?
5. 5.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
6. 6.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) payment for a cake order (d) a card order paid
7. 7.Kabir’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹160 (posters)
   Expense: ₹120 (lemons)
   What is the profit (in ₹)?
8. 8.Rohan’s income was ₹430 and the profit was ₹70. One expense was ₹240 (posters). How much was the other expense, for card paper (in ₹)?
9. 9.Kavya’s stall took in ₹160 on Friday, ₹150 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
10. 10.Dev’s stall took in ₹380 on Friday, ₹90 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
11. 11.Nisha’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) printing posters (b) money from sales (c) paying the stall fee (d) buying paper cups
13. 13.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) payment for a cake order
14. 14.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) money from sales (d) a card order paid
15. 15.True or false: “money from sales” is income (money in). (a) True (b) False
16. 16.Kabir’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: money from sales? (a) expense (b) income
18. 18.Riya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
19. 19.Vihaan’s stall took in ₹160 on Friday, ₹80 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “paying the stall fee” is income (money in). (a) False (b) True
21. 21.Rohan’s stall took in ₹160 on Friday, ₹150 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
22. 22.Arjun’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹250 (ribbon)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) payment for a cake order (d) money from sales
24. 24.Zoya’s stall took in ₹200 on Friday, ₹230 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
27. 27.Meera’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying lemons (d) printing posters
29. 29.Zoya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
30. 30.📒 Income or expense: a card order paid? (a) income (b) expense
31. 31.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
32. 32.True or false: “buying lemons” is income (money in). (a) False (b) True
33. 33.Farhan’s stall took in ₹110 on Friday, ₹190 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
35. 35.Rohan’s income was ₹310 and the profit was ₹240. One expense was ₹40 (posters). How much was the other expense, for ribbon (in ₹)?
36. 36.Lakshmi’s stall took in ₹340 on Friday, ₹200 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
37. 37.Ishaan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
38. 38.Aarav’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
39. 39.Aarav’s income was ₹460 and the profit was ₹270. One expense was ₹110 (lemons). How much was the other expense, for ribbon (in ₹)?
40. 40.Ananya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?

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