Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 955 · 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.Lakshmi’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹150 (paper cups)
   Expense: ₹170 (card paper)
   What is the profit (in ₹)?
2. 2.Zoya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹90 (posters)
   Expense: ₹20 (lemons)
   How much is the loss (in ₹)?
3. 3.Kavya’s income was ₹400 and the profit was ₹290. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
4. 4.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
5. 5.Nisha’s income was ₹150 and the profit was ₹50. One expense was ₹70 (paper cups). How much was the other expense, for lemons (in ₹)?
6. 6.Tara’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹180 (card paper)
   What is the profit (in ₹)?
7. 7.Rohan’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹70 (stall fee)
   Expense: ₹200 (card paper)
   What is the profit (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
9. 9.Nisha’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹50 (posters)
   Expense: ₹230 (stall fee)
   How much is the loss (in ₹)?
10. 10.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) tutoring fees received
11. 11.True or false: “a card order paid” is an expense (money out). (a) False (b) True
12. 12.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) buying paper cups (d) cash from selling plants
13. 13.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
15. 15.True or false: “money from sales” is income (money in). (a) False (b) True
16. 16.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
17. 17.📒 Income or expense: paying the stall fee? (a) income (b) expense
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.True or false: “tutoring fees received” is income (money in). (a) True (b) False
20. 20.Lakshmi’s income was ₹130 and the profit was ₹80. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
21. 21.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹170 (posters)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
22. 22.Riya’s income was ₹120 and the profit was ₹40. One expense was ₹70 (paper cups). How much was the other expense, for stall fee (in ₹)?
23. 23.Vihaan’s stall took in ₹390 on Friday, ₹140 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
24. 24.Tara’s income was ₹270 and the profit was ₹140. One expense was ₹10 (transport). How much was the other expense, for posters (in ₹)?
25. 25.Nisha’s income was ₹430 and the profit was ₹390. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
26. 26.Diya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
27. 27.Dev’s stall took in ₹110 on Friday, ₹370 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
28. 28.Arjun’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
30. 30.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
31. 31.Farhan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹200 (transport)
    How much is the loss (in ₹)?
32. 32.Kabir’s stall took in ₹90 on Friday, ₹310 on Saturday and ₹290 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.Ishaan’s stall took in ₹250 on Friday, ₹230 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
35. 35.Gurpreet’s income was ₹190 and the profit was ₹150. One expense was ₹30 (card paper). How much was the other expense, for posters (in ₹)?
36. 36.Kabir’s income was ₹300 and the profit was ₹80. One expense was ₹60 (stall fee). How much was the other expense, for card paper (in ₹)?
37. 37.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) cash from selling plants (d) payment for a cake order
38. 38.Nisha’s income was ₹140 and the profit was ₹20. One expense was ₹20 (posters). How much was the other expense, for sugar (in ₹)?
39. 39.Tara’s income was ₹360 and the profit was ₹40. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
40. 40.Aarav’s stall took in ₹190 on Friday, ₹330 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?

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