Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 887 · 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.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
2. 2.Tara’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹120 (transport)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
4. 4.Lakshmi’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹340 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹110 (stall fee)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: buying paper cups? (a) income (b) expense
6. 6.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
7. 7.Dev’s stall took in ₹80 on Friday, ₹70 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
8. 8.Joseph’s stall took in ₹240 on Friday, ₹80 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
9. 9.Zoya’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹90 (stall fee)
   Expense: ₹170 (paper cups)
   What is the profit (in ₹)?
10. 10.Tara’s stall took in ₹330 on Friday, ₹290 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
11. 11.Kavya’s income was ₹470 and the profit was ₹340. One expense was ₹80 (card paper). How much was the other expense, for transport (in ₹)?
12. 12.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
13. 13.Saanvi’s income was ₹140 and the profit was ₹30. One expense was ₹60 (paper cups). How much was the other expense, for card paper (in ₹)?
14. 14.📒 Income or expense: a card order paid? (a) expense (b) income
15. 15.📒 Income or expense: cash from selling plants? (a) income (b) expense
16. 16.Meera’s stall took in ₹230 on Friday, ₹90 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
18. 18.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) tutoring fees received (d) buying lemons
19. 19.Aarav’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
20. 20.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
21. 21.True or false: “paying the stall fee” is income (money in). (a) False (b) True
22. 22.Rohan’s income was ₹430 and the profit was ₹130. One expense was ₹60 (posters). How much was the other expense, for sugar (in ₹)?
23. 23.Gurpreet’s stall took in ₹340 on Friday, ₹180 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
24. 24.Dev’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) a card order paid (d) payment for a cake order
26. 26.True or false: “cash from selling plants” is income (money in). (a) False (b) True
27. 27.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) cash from selling plants
28. 28.Dev’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹80 (posters)
    Expense: ₹280 (transport)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: money from sales? (a) income (b) expense
30. 30.True or false: “buying lemons” is income (money in). (a) True (b) False
31. 31.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
32. 32.Nisha’s stall took in ₹270 on Friday, ₹150 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
33. 33.Zoya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
34. 34.Kabir’s stall took in ₹130 on Friday, ₹250 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
35. 35.Dev’s income was ₹490 and the profit was ₹160. One expense was ₹130 (ribbon). How much was the other expense, for transport (in ₹)?
36. 36.Kavya’s record for the day:
    Income: ₹570 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
37. 37.Diya’s stall took in ₹160 on Friday, ₹340 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
38. 38.Joseph’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
39. 39.Meera’s income was ₹470 and the profit was ₹30. One expense was ₹190 (ribbon). How much was the other expense, for lemons (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) income (b) expense

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