Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 834 · 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 record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹190 (sugar)
   Expense: ₹110 (transport)
   How much is the loss (in ₹)?
2. 2.Lakshmi’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹220 (card paper)
   Expense: ₹120 (lemons)
   How much is the loss (in ₹)?
3. 3.Ishaan’s income was ₹410 and the profit was ₹180. One expense was ₹100 (transport). How much was the other expense, for lemons (in ₹)?
4. 4.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) buying paper cups (d) printing posters
5. 5.Ishaan’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹190 (paper cups)
   Expense: ₹50 (ribbon)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: tutoring fees received? (a) income (b) expense
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
9. 9.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) cash from selling plants (d) a card order paid
10. 10.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
11. 11.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
12. 12.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
13. 13.📒 Income or expense: printing posters? (a) income (b) expense
14. 14.📒 Income or expense: money from sales? (a) expense (b) income
15. 15.Ishaan’s income was ₹160 and the profit was ₹140. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
16. 16.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
17. 17.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) cash from selling plants (d) buying lemons
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.Gurpreet’s income was ₹320 and the profit was ₹110. One expense was ₹90 (ribbon). How much was the other expense, for paper cups (in ₹)?
20. 20.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) payment for a cake order (d) buying paper cups
21. 21.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
22. 22.Diya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹210 (lemons)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
23. 23.True or false: “bus fare to the market” is income (money in). (a) True (b) False
24. 24.Ananya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
25. 25.Ananya’s income was ₹260 and the profit was ₹130. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
26. 26.True or false: “printing posters” is an expense (money out). (a) False (b) True
27. 27.Diya’s stall took in ₹350 on Friday, ₹240 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
28. 28.Arjun’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹40 (posters)
    Expense: ₹250 (stall fee)
    How much is the loss (in ₹)?
29. 29.True or false: “buying paper cups” is income (money in). (a) True (b) False
30. 30.True or false: “payment for a cake order” is income (money in). (a) False (b) True
31. 31.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
32. 32.Rohan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
33. 33.True or false: “a card order paid” is income (money in). (a) False (b) True
34. 34.📒 Income or expense: buying paper cups? (a) expense (b) income
35. 35.Joseph’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
36. 36.Aarav’s stall took in ₹170 on Friday, ₹260 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
37. 37.Nisha’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹200 (stall fee)
    How much is the loss (in ₹)?
38. 38.Zoya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
39. 39.Arjun’s income was ₹280 and the profit was ₹70. One expense was ₹70 (sugar). How much was the other expense, for paper cups (in ₹)?
40. 40.📒 Income or expense: a card order paid? (a) expense (b) income

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