Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 969 · 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.Aarav’s income was ₹160 and the profit was ₹70. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
2. 2.Lakshmi’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹130 (posters)
   Expense: ₹130 (transport)
   What is the profit (in ₹)?
3. 3.Nisha’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹30 (paper cups)
   Expense: ₹260 (lemons)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) payment for a cake order (d) buying paper cups
5. 5.True or false: “buying lemons” is income (money in). (a) True (b) False
6. 6.Meera’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹260 (posters)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.Ananya’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹40 (card paper)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
9. 9.Tara’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹30 (paper cups)
   Expense: ₹340 (ribbon)
   How much is the loss (in ₹)?
10. 10.Ananya’s income was ₹450 and the profit was ₹290. One expense was ₹60 (lemons). How much was the other expense, for sugar (in ₹)?
11. 11.📒 Income or expense: a card order paid? (a) income (b) expense
12. 12.Nisha’s income was ₹280 and the profit was ₹40. One expense was ₹170 (paper cups). How much was the other expense, for ribbon (in ₹)?
13. 13.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) printing posters
14. 14.Tara’s stall took in ₹80 on Friday, ₹360 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
15. 15.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.True or false: “a card order paid” is an expense (money out). (a) False (b) True
18. 18.Nisha’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹30 (transport)
    Expense: ₹280 (posters)
    How much is the loss (in ₹)?
19. 19.Aarav’s income was ₹230 and the profit was ₹210. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
20. 20.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
21. 21.True or false: “buying paper cups” is income (money in). (a) True (b) False
22. 22.Diya’s stall took in ₹160 on Friday, ₹370 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
23. 23.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
24. 24.Kavya’s income was ₹160 and the profit was ₹100. One expense was ₹20 (lemons). How much was the other expense, for stall fee (in ₹)?
25. 25.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
26. 26.Lakshmi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
27. 27.Arjun’s income was ₹300 and the profit was ₹100. One expense was ₹30 (card paper). How much was the other expense, for stall fee (in ₹)?
28. 28.Kabir’s stall took in ₹400 on Friday, ₹360 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
29. 29.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
30. 30.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) printing posters (d) paying the stall fee
31. 31.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
32. 32.True or false: “printing posters” is an expense (money out). (a) True (b) False
33. 33.Dev’s income was ₹190 and the profit was ₹40. One expense was ₹30 (sugar). How much was the other expense, for posters (in ₹)?
34. 34.Kavya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
35. 35.Aarav’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
36. 36.Ananya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹150 (sugar)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
37. 37.Zoya’s income was ₹180 and the profit was ₹100. One expense was ₹50 (stall fee). How much was the other expense, for transport (in ₹)?
38. 38.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) buying paper cups (d) money from sales
39. 39.Zoya’s stall took in ₹200 on Friday, ₹170 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
40. 40.Joseph’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?

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