Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 922 · 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.Zoya’s income was ₹180 and the profit was ₹90. One expense was ₹80 (paper cups). How much was the other expense, for lemons (in ₹)?
2. 2.Lakshmi’s stall took in ₹180 on Friday, ₹140 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
3. 3.Lakshmi’s stall took in ₹210 on Friday, ₹170 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.Joseph’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹40 (transport)
   Expense: ₹120 (ribbon)
   How much is the loss (in ₹)?
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) a card order paid
7. 7.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) cash from selling plants
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) cash from selling plants (d) buying paper cups
10. 10.Kavya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
11. 11.True or false: “printing posters” is income (money in). (a) False (b) True
12. 12.📒 Income or expense: a card order paid? (a) expense (b) income
13. 13.True or false: “buying lemons” is income (money in). (a) False (b) True
14. 14.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
15. 15.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) money from sales
16. 16.📒 Income or expense: payment for a cake order? (a) income (b) expense
17. 17.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.Riya’s income was ₹220 and the profit was ₹30. One expense was ₹160 (paper cups). How much was the other expense, for ribbon (in ₹)?
20. 20.Joseph’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
21. 21.Ishaan’s income was ₹500 and the profit was ₹10. One expense was ₹350 (posters). How much was the other expense, for paper cups (in ₹)?
22. 22.Ananya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
23. 23.Arjun’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹250 (posters)
    How much is the loss (in ₹)?
24. 24.Zoya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (transport)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
25. 25.Meera’s stall took in ₹90 on Friday, ₹240 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
26. 26.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
27. 27.Tara’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹170 (sugar)
    How much is the loss (in ₹)?
28. 28.True or false: “cash from selling plants” is income (money in). (a) False (b) True
29. 29.True or false: “a card order paid” is income (money in). (a) True (b) False
30. 30.Arjun’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹200 (ribbon)
    How much is the loss (in ₹)?
31. 31.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
32. 32.Lakshmi’s stall took in ₹320 on Friday, ₹260 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
34. 34.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) expense (b) income
36. 36.Zoya’s income was ₹430 and the profit was ₹130. One expense was ₹30 (sugar). How much was the other expense, for ribbon (in ₹)?
37. 37.Ananya’s stall took in ₹100 on Friday, ₹390 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
38. 38.Ananya’s income was ₹430 and the profit was ₹230. One expense was ₹50 (lemons). How much was the other expense, for transport (in ₹)?
39. 39.Diya’s income was ₹460 and the profit was ₹140. One expense was ₹160 (paper cups). How much was the other expense, for stall fee (in ₹)?
40. 40.True or false: “buying paper cups” is an expense (money out). (a) False (b) True

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