Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 814 · 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.Kavya’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
2. 2.True or false: “money from sales” is income (money in). (a) False (b) True
3. 3.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
4. 4.Lakshmi’s income was ₹460 and the profit was ₹220. One expense was ₹70 (lemons). How much was the other expense, for transport (in ₹)?
5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
6. 6.📒 Income or expense: printing posters? (a) expense (b) income
7. 7.📒 Income or expense: paying the stall fee? (a) expense (b) income
8. 8.📒 Income or expense: payment for a cake order? (a) income (b) expense
9. 9.Farhan’s stall took in ₹260 on Friday, ₹90 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
10. 10.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹170 (transport)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
11. 11.Ananya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
12. 12.Riya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹140 (transport)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) cash from selling plants
16. 16.Rohan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
17. 17.Ishaan’s stall took in ₹390 on Friday, ₹140 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
18. 18.Kavya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: bus fare to the market? (a) expense (b) income
20. 20.Kabir’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (card paper)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
21. 21.Zoya’s income was ₹270 and the profit was ₹200. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
22. 22.True or false: “payment for a cake order” is income (money in). (a) True (b) False
23. 23.Diya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
24. 24.Farhan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) buying lemons (d) paying the stall fee
26. 26.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
27. 27.Kabir’s income was ₹490 and the profit was ₹230. One expense was ₹100 (lemons). How much was the other expense, for posters (in ₹)?
28. 28.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) a card order paid (d) payment for a cake order
29. 29.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
30. 30.Rohan’s stall took in ₹110 on Friday, ₹50 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
32. 32.Arjun’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
33. 33.Riya’s income was ₹380 and the profit was ₹40. One expense was ₹270 (card paper). How much was the other expense, for posters (in ₹)?
34. 34.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹190 (paper cups)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
35. 35.Nisha’s stall took in ₹50 on Friday, ₹260 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “bus fare to the market” is income (money in). (a) False (b) True
37. 37.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying paper cups (d) a card order paid
38. 38.Nisha’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
39. 39.Ananya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
40. 40.Diya’s income was ₹260 and the profit was ₹230. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?

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