Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 968 · 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.Ananya’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹10 (lemons)
   Expense: ₹340 (card paper)
   How much is the loss (in ₹)?
2. 2.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) money from sales
3. 3.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) a card order paid
4. 4.Ananya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹40 (sugar)
   Expense: ₹110 (transport)
   What is the profit (in ₹)?
5. 5.Lakshmi’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹60 (paper cups)
   Expense: ₹220 (ribbon)
   How much is the loss (in ₹)?
6. 6.Vihaan’s income was ₹280 and the profit was ₹10. One expense was ₹50 (sugar). How much was the other expense, for transport (in ₹)?
7. 7.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
8. 8.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
9. 9.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying lemons (d) bus fare to the market
10. 10.📒 Income or expense: printing posters? (a) expense (b) income
11. 11.Kabir’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.Aarav’s stall took in ₹290 on Friday, ₹120 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
14. 14.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (transport)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: tutoring fees received? (a) income (b) expense
16. 16.📒 Income or expense: paying the stall fee? (a) income (b) expense
17. 17.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
18. 18.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
19. 19.Rohan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
20. 20.True or false: “paying the stall fee” is income (money in). (a) False (b) True
21. 21.Ananya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
22. 22.Kabir’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹310 (lemons)
    How much is the loss (in ₹)?
23. 23.Tara’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: cash from selling plants? (a) income (b) expense
25. 25.📒 Income or expense: buying lemons? (a) income (b) expense
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) a card order paid (d) payment for a cake order
27. 27.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹300 (stall fee)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
28. 28.Gurpreet’s stall took in ₹60 on Friday, ₹60 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
29. 29.Gurpreet’s income was ₹360 and the profit was ₹230. One expense was ₹30 (stall fee). How much was the other expense, for card paper (in ₹)?
30. 30.Joseph’s stall took in ₹270 on Friday, ₹110 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) payment for a cake order (d) tutoring fees received
32. 32.True or false: “payment for a cake order” is income (money in). (a) False (b) True
33. 33.📒 Income or expense: buying paper cups? (a) expense (b) income
34. 34.Diya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
35. 35.Aarav’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
36. 36.Arjun’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
37. 37.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹90 (transport)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
38. 38.Saanvi’s income was ₹180 and the profit was ₹30. One expense was ₹20 (card paper). How much was the other expense, for sugar (in ₹)?
39. 39.True or false: “a card order paid” is an expense (money out). (a) True (b) False
40. 40.Farhan’s stall took in ₹170 on Friday, ₹50 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?

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