Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 180 · 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.Vihaan’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹180 (lemons)
   Expense: ₹60 (sugar)
   How much is the loss (in ₹)?
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) buying lemons (d) money from sales
3. 3.Rohan’s stall took in ₹240 on Friday, ₹270 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “paying the stall fee” is income (money in). (a) True (b) False
5. 5.True or false: “a card order paid” is income (money in). (a) False (b) True
6. 6.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) a card order paid (d) tutoring fees received
7. 7.Gurpreet’s stall took in ₹150 on Friday, ₹130 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
8. 8.Kabir’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹150 (paper cups)
   Expense: ₹40 (transport)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.Diya’s income was ₹260 and the profit was ₹70. One expense was ₹30 (posters). How much was the other expense, for transport (in ₹)?
11. 11.Tara’s stall took in ₹230 on Friday, ₹380 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) printing posters
13. 13.True or false: “payment for a cake order” is income (money in). (a) True (b) False
14. 14.Kabir’s income was ₹240 and the profit was ₹190. One expense was ₹30 (stall fee). How much was the other expense, for ribbon (in ₹)?
15. 15.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
16. 16.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
17. 17.📒 Income or expense: a card order paid? (a) income (b) expense
18. 18.Farhan’s income was ₹140 and the profit was ₹10. One expense was ₹40 (posters). How much was the other expense, for stall fee (in ₹)?
19. 19.Riya’s stall took in ₹210 on Friday, ₹270 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
20. 20.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
21. 21.📒 Income or expense: paying the stall fee? (a) expense (b) income
22. 22.Joseph’s income was ₹410 and the profit was ₹30. One expense was ₹20 (transport). How much was the other expense, for paper cups (in ₹)?
23. 23.Kabir’s income was ₹300 and the profit was ₹260. One expense was ₹20 (transport). How much was the other expense, for paper cups (in ₹)?
24. 24.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) a card order paid (d) paying the stall fee
25. 25.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
26. 26.Meera’s income was ₹380 and the profit was ₹90. One expense was ₹170 (lemons). How much was the other expense, for paper cups (in ₹)?
27. 27.Ananya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) paying the stall fee
29. 29.Ananya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
30. 30.Gurpreet’s stall took in ₹180 on Friday, ₹260 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “buying paper cups” is income (money in). (a) True (b) False
32. 32.Dev’s stall took in ₹170 on Friday, ₹210 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) printing posters (d) bus fare to the market
34. 34.True or false: “printing posters” is an expense (money out). (a) False (b) True
35. 35.Arjun’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹200 (sugar)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
36. 36.Riya’s stall took in ₹140 on Friday, ₹300 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
37. 37.Diya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹360 (sugar)
    How much is the loss (in ₹)?
38. 38.Farhan’s income was ₹380 and the profit was ₹220. One expense was ₹60 (ribbon). How much was the other expense, for transport (in ₹)?
39. 39.Zoya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
40. 40.Riya’s income was ₹470 and the profit was ₹90. One expense was ₹350 (card paper). How much was the other expense, for sugar (in ₹)?

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