Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 191 · 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 the day:
   Income: ₹120 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹80 (posters)
   Expense: ₹40 (stall fee)
   What is the profit (in ₹)?
2. 2.Vihaan’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹250 (stall fee)
   Expense: ₹60 (card paper)
   How much is the loss (in ₹)?
3. 3.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
4. 4.📒 Income or expense: buying paper cups? (a) expense (b) income
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
6. 6.📒 Income or expense: tutoring fees received? (a) income (b) expense
7. 7.Farhan’s stall took in ₹50 on Friday, ₹110 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “payment for a cake order” is income (money in). (a) True (b) False
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) printing posters (d) cash from selling plants
10. 10.Kavya’s income was ₹180 and the profit was ₹110. One expense was ₹60 (lemons). How much was the other expense, for ribbon (in ₹)?
11. 11.Kabir’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
12. 12.Rohan’s stall took in ₹120 on Friday, ₹270 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
14. 14.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
15. 15.Dev’s income was ₹310 and the profit was ₹120. One expense was ₹160 (sugar). How much was the other expense, for card paper (in ₹)?
16. 16.📒 Income or expense: printing posters? (a) expense (b) income
17. 17.Aarav’s income was ₹480 and the profit was ₹50. One expense was ₹80 (ribbon). How much was the other expense, for posters (in ₹)?
18. 18.True or false: “a card order paid” is income (money in). (a) False (b) True
19. 19.Riya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹40 (transport)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
20. 20.Ishaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹280 (transport)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
21. 21.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) cash from selling plants (d) paying the stall fee
22. 22.Aarav’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
23. 23.Diya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹190 (transport)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
24. 24.Zoya’s income was ₹180 and the profit was ₹90. One expense was ₹20 (lemons). How much was the other expense, for card paper (in ₹)?
25. 25.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
26. 26.True or false: “buying paper cups” is income (money in). (a) False (b) True
27. 27.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
28. 28.Dev’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
29. 29.Dev’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
30. 30.Lakshmi’s stall took in ₹130 on Friday, ₹240 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) payment for a cake order (d) a card order paid
32. 32.Arjun’s stall took in ₹80 on Friday, ₹190 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
33. 33.Ananya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: a card order paid? (a) income (b) expense
35. 35.True or false: “a card order paid” is an expense (money out). (a) True (b) False
36. 36.Kavya’s stall took in ₹70 on Friday, ₹270 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
38. 38.Nisha’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
39. 39.True or false: “paying the stall fee” is income (money in). (a) True (b) False
40. 40.Meera’s income was ₹400 and the profit was ₹170. One expense was ₹60 (paper cups). How much was the other expense, for stall fee (in ₹)?

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