Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 823 · 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.Aarav’s income was ₹240 and the profit was ₹60. One expense was ₹40 (card paper). How much was the other expense, for paper cups (in ₹)?
2. 2.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
3. 3.Aarav’s stall took in ₹320 on Friday, ₹200 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
4. 4.Ananya’s stall took in ₹310 on Friday, ₹170 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
5. 5.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
6. 6.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
7. 7.Joseph’s income was ₹440 and the profit was ₹180. One expense was ₹240 (paper cups). How much was the other expense, for posters (in ₹)?
8. 8.📒 Income or expense: bus fare to the market? (a) income (b) expense
9. 9.Riya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹40 (lemons)
   Expense: ₹190 (ribbon)
   What is the profit (in ₹)?
10. 10.Tara’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
11. 11.Meera’s income was ₹350 and the profit was ₹140. One expense was ₹150 (sugar). How much was the other expense, for stall fee (in ₹)?
12. 12.True or false: “money from sales” is an expense (money out). (a) True (b) False
13. 13.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) buying paper cups (d) paying the stall fee
14. 14.Gurpreet’s income was ₹260 and the profit was ₹180. One expense was ₹60 (lemons). How much was the other expense, for ribbon (in ₹)?
15. 15.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) buying lemons
16. 16.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
17. 17.Joseph’s income was ₹340 and the profit was ₹140. One expense was ₹60 (ribbon). How much was the other expense, for lemons (in ₹)?
18. 18.Lakshmi’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
19. 19.Vihaan’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
20. 20.Vihaan’s stall took in ₹180 on Friday, ₹210 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “a card order paid” is an expense (money out). (a) True (b) False
22. 22.Aarav’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) buying paper cups
24. 24.📒 Income or expense: buying paper cups? (a) expense (b) income
25. 25.True or false: “a card order paid” is income (money in). (a) True (b) False
26. 26.Kabir’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: money from sales? (a) expense (b) income
28. 28.Ananya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹260 (posters)
    How much is the loss (in ₹)?
29. 29.Tara’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
30. 30.Dev’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
31. 31.Kavya’s income was ₹310 and the profit was ₹190. One expense was ₹60 (stall fee). How much was the other expense, for posters (in ₹)?
32. 32.Saanvi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹170 (stall fee)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
33. 33.Diya’s stall took in ₹330 on Friday, ₹70 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
34. 34.Meera’s stall took in ₹180 on Friday, ₹390 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
35. 35.Nisha’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) printing posters (d) tutoring fees received
37. 37.📒 Income or expense: tutoring fees received? (a) expense (b) income
38. 38.📒 Income or expense: a card order paid? (a) expense (b) income
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
40. 40.Dev’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?

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