Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 853 · 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.Diya’s income was ₹410 and the profit was ₹340. One expense was ₹40 (lemons). How much was the other expense, for stall fee (in ₹)?
2. 2.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
4. 4.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
5. 5.Zoya’s income was ₹430 and the profit was ₹210. One expense was ₹120 (sugar). How much was the other expense, for card paper (in ₹)?
6. 6.Vihaan’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹40 (posters)
   Expense: ₹240 (transport)
   How much is the loss (in ₹)?
7. 7.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) printing posters
8. 8.Zoya’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹110 (posters)
   Expense: ₹50 (card paper)
   What is the profit (in ₹)?
9. 9.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
10. 10.True or false: “printing posters” is an expense (money out). (a) False (b) True
11. 11.📒 Income or expense: a card order paid? (a) income (b) expense
12. 12.True or false: “printing posters” is income (money in). (a) True (b) False
13. 13.Dev’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
14. 14.Ananya’s stall took in ₹130 on Friday, ₹180 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
15. 15.Ananya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
16. 16.Farhan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
17. 17.Farhan’s income was ₹200 and the profit was ₹110. One expense was ₹80 (paper cups). How much was the other expense, for stall fee (in ₹)?
18. 18.Zoya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: paying the stall fee? (a) expense (b) income
20. 20.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹210 (stall fee)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
22. 22.Ishaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
23. 23.Meera’s income was ₹480 and the profit was ₹130. One expense was ₹50 (card paper). How much was the other expense, for stall fee (in ₹)?
24. 24.Zoya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
25. 25.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
26. 26.Ananya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹190 (paper cups)
    How much is the loss (in ₹)?
27. 27.Rohan’s income was ₹410 and the profit was ₹330. One expense was ₹60 (paper cups). How much was the other expense, for card paper (in ₹)?
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.Farhan’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
30. 30.Riya’s income was ₹230 and the profit was ₹150. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
31. 31.Farhan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹170 (card paper)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
32. 32.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) payment for a cake order
33. 33.True or false: “a card order paid” is an expense (money out). (a) True (b) False
34. 34.Zoya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: tutoring fees received? (a) income (b) expense
36. 36.Nisha’s stall took in ₹370 on Friday, ₹160 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “buying lemons” is income (money in). (a) True (b) False
38. 38.True or false: “cash from selling plants” is income (money in). (a) False (b) True
39. 39.Dev’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
40. 40.Saanvi’s stall took in ₹300 on Friday, ₹400 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?

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