Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 213 · 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.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
2. 2.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
3. 3.Rohan’s stall took in ₹390 on Friday, ₹310 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
4. 4.Kabir’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹60 (paper cups)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
5. 5.Dev’s stall took in ₹240 on Friday, ₹400 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
6. 6.Arjun’s stall took in ₹110 on Friday, ₹270 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
7. 7.Riya’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹60 (transport)
   Expense: ₹200 (sugar)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: paying the stall fee? (a) income (b) expense
9. 9.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) cash from selling plants (d) buying lemons
10. 10.📒 Income or expense: a card order paid? (a) income (b) expense
11. 11.Vihaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
12. 12.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹140 (stall fee)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
13. 13.Farhan’s income was ₹330 and the profit was ₹100. One expense was ₹210 (transport). How much was the other expense, for card paper (in ₹)?
14. 14.Meera’s income was ₹160 and the profit was ₹130. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
15. 15.📒 Income or expense: payment for a cake order? (a) income (b) expense
16. 16.Gurpreet’s income was ₹420 and the profit was ₹300. One expense was ₹110 (stall fee). How much was the other expense, for lemons (in ₹)?
17. 17.Farhan’s stall took in ₹240 on Friday, ₹320 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: money from sales? (a) income (b) expense
19. 19.Ananya’s stall took in ₹170 on Friday, ₹330 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
20. 20.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹220 (transport)
    How much is the loss (in ₹)?
21. 21.Farhan’s stall took in ₹90 on Friday, ₹270 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
22. 22.Joseph’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹310 (posters)
    How much is the loss (in ₹)?
23. 23.Joseph’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (transport)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
24. 24.Riya’s income was ₹370 and the profit was ₹90. One expense was ₹20 (ribbon). How much was the other expense, for transport (in ₹)?
25. 25.Lakshmi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹80 (transport)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
26. 26.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
27. 27.Ananya’s income was ₹300 and the profit was ₹190. One expense was ₹100 (posters). How much was the other expense, for paper cups (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
29. 29.Tara’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
30. 30.Tara’s income was ₹190 and the profit was ₹40. One expense was ₹80 (sugar). How much was the other expense, for card paper (in ₹)?
31. 31.True or false: “a card order paid” is income (money in). (a) True (b) False
32. 32.Gurpreet’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: buying lemons? (a) expense (b) income
34. 34.📒 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
35. 35.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) a card order paid (d) bus fare to the market
36. 36.Tara’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
37. 37.True or false: “cash from selling plants” is income (money in). (a) True (b) False
38. 38.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
39. 39.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) income (b) expense

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