Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 815 · 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.Rohan’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹380 (evening sales)
   Expense: ₹200 (paper cups)
   Expense: ₹130 (lemons)
   What is the profit (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
3. 3.Kabir’s stall took in ₹360 on Friday, ₹230 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
4. 4.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) money from sales
6. 6.📒 Income or expense: a card order paid? (a) expense (b) income
7. 7.Riya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹40 (sugar)
   Expense: ₹80 (ribbon)
   What is the profit (in ₹)?
8. 8.Saanvi’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹190 (posters)
   Expense: ₹60 (card paper)
   How much is the loss (in ₹)?
9. 9.True or false: “money from sales” is income (money in). (a) True (b) False
10. 10.Aarav’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
11. 11.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹100 (transport)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
12. 12.Nisha’s stall took in ₹70 on Friday, ₹90 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) payment for a cake order (d) a card order paid
15. 15.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
16. 16.Riya’s stall took in ₹300 on Friday, ₹160 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “bus fare to the market” is income (money in). (a) False (b) True
18. 18.Lakshmi’s income was ₹490 and the profit was ₹390. One expense was ₹50 (paper cups). How much was the other expense, for posters (in ₹)?
19. 19.Zoya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) cash from selling plants
21. 21.📒 Income or expense: bus fare to the market? (a) income (b) expense
22. 22.Riya’s income was ₹130 and the profit was ₹10. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
23. 23.Diya’s income was ₹390 and the profit was ₹90. One expense was ₹90 (ribbon). How much was the other expense, for paper cups (in ₹)?
24. 24.Farhan’s income was ₹240 and the profit was ₹30. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
25. 25.True or false: “buying lemons” is income (money in). (a) False (b) True
26. 26.Zoya’s income was ₹220 and the profit was ₹40. One expense was ₹80 (paper cups). How much was the other expense, for transport (in ₹)?
27. 27.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) buying paper cups
28. 28.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
29. 29.True or false: “printing posters” is income (money in). (a) False (b) True
30. 30.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) a card order paid (d) paying the stall fee
31. 31.Rohan’s stall took in ₹250 on Friday, ₹130 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: paying the stall fee? (a) income (b) expense
33. 33.📒 Income or expense: payment for a cake order? (a) expense (b) income
34. 34.Lakshmi’s income was ₹270 and the profit was ₹110. One expense was ₹130 (sugar). How much was the other expense, for ribbon (in ₹)?
35. 35.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) payment for a cake order (d) cash from selling plants
36. 36.Farhan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (posters)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
37. 37.Kabir’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
38. 38.True or false: “buying paper cups” is income (money in). (a) False (b) True
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
40. 40.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) tutoring fees received (d) a card order paid

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