Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 972 · 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.Ishaan’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹190 (paper cups)
   Expense: ₹30 (sugar)
   What is the profit (in ₹)?
2. 2.Vihaan’s stall took in ₹370 on Friday, ₹80 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
3. 3.Nisha’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹20 (posters)
   Expense: ₹60 (stall fee)
   How much is the loss (in ₹)?
4. 4.Farhan’s stall took in ₹260 on Friday, ₹190 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
5. 5.Zoya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹100 (transport)
   Expense: ₹30 (card paper)
   How much is the loss (in ₹)?
6. 6.Vihaan’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹190 (stall fee)
   Expense: ₹120 (posters)
   How much is the loss (in ₹)?
7. 7.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) buying lemons (d) paying the stall fee
8. 8.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
9. 9.Ananya’s stall took in ₹120 on Friday, ₹230 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
10. 10.Lakshmi’s stall took in ₹280 on Friday, ₹200 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
11. 11.Joseph’s stall took in ₹250 on Friday, ₹380 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) income (b) expense
13. 13.Meera’s income was ₹230 and the profit was ₹180. One expense was ₹40 (sugar). How much was the other expense, for card paper (in ₹)?
14. 14.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
15. 15.True or false: “money from sales” is income (money in). (a) True (b) False
16. 16.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
17. 17.Kavya’s income was ₹370 and the profit was ₹350. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
18. 18.📒 Income or expense: bus fare to the market? (a) income (b) expense
19. 19.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
20. 20.Aarav’s stall took in ₹140 on Friday, ₹100 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
21. 21.Lakshmi’s income was ₹280 and the profit was ₹230. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
22. 22.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
23. 23.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
24. 24.Kabir’s stall took in ₹300 on Friday, ₹110 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
25. 25.Ananya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
26. 26.Riya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: payment for a cake order? (a) expense (b) income
28. 28.📒 Income or expense: cash from selling plants? (a) income (b) expense
29. 29.📒 Income or expense: paying the stall fee? (a) income (b) expense
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) cash from selling plants
32. 32.True or false: “payment for a cake order” is income (money in). (a) True (b) False
33. 33.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) a card order paid
34. 34.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
35. 35.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
36. 36.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) cash from selling plants (d) payment for a cake order
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.Kabir’s income was ₹220 and the profit was ₹150. One expense was ₹60 (stall fee). How much was the other expense, for ribbon (in ₹)?
39. 39.True or false: “buying lemons” is an expense (money out). (a) True (b) False
40. 40.Ananya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?

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