Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 957 · 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: ₹50 (sales)
   Expense: ₹70 (stall fee)
   Expense: ₹20 (sugar)
   How much is the loss (in ₹)?
2. 2.Zoya’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹40 (lemons)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: cash from selling plants? (a) income (b) expense
4. 4.📒 Income or expense: buying lemons? (a) income (b) expense
5. 5.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
6. 6.Zoya’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹100 (transport)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
7. 7.Saanvi’s income was ₹230 and the profit was ₹90. One expense was ₹40 (card paper). How much was the other expense, for sugar (in ₹)?
8. 8.📒 Income or expense: tutoring fees received? (a) income (b) expense
9. 9.📒 Income or expense: buying paper cups? (a) expense (b) income
10. 10.Vihaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: printing posters? (a) income (b) expense
12. 12.Joseph’s stall took in ₹210 on Friday, ₹70 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
13. 13.Saanvi’s stall took in ₹330 on Friday, ₹210 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) paying the stall fee (d) payment for a cake order
15. 15.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
16. 16.Kabir’s income was ₹360 and the profit was ₹230. One expense was ₹80 (ribbon). How much was the other expense, for lemons (in ₹)?
17. 17.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
18. 18.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying lemons (d) paying the stall fee
19. 19.True or false: “a card order paid” is an expense (money out). (a) True (b) False
20. 20.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) tutoring fees received (d) a card order paid
21. 21.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying lemons (d) tutoring fees received
22. 22.True or false: “buying paper cups” is income (money in). (a) False (b) True
23. 23.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
24. 24.Tara’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: a card order paid? (a) income (b) expense
26. 26.Meera’s stall took in ₹170 on Friday, ₹110 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
27. 27.Joseph’s income was ₹480 and the profit was ₹350. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
29. 29.True or false: “buying lemons” is an expense (money out). (a) False (b) True
30. 30.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
31. 31.Farhan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
32. 32.Meera’s income was ₹470 and the profit was ₹170. One expense was ₹40 (stall fee). How much was the other expense, for posters (in ₹)?
33. 33.Farhan’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
34. 34.Diya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
35. 35.Nisha’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
36. 36.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹30 (transport)
    Expense: ₹310 (posters)
    How much is the loss (in ₹)?
37. 37.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) money from sales (d) buying paper cups
38. 38.Meera’s stall took in ₹80 on Friday, ₹270 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
40. 40.📒 Income or expense: bus fare to the market? (a) expense (b) income

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