Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 333 · 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 record for the day:
   Income: ₹210 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹110 (lemons)
   What is the profit (in ₹)?
2. 2.Kavya’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹20 (lemons)
   What is the profit (in ₹)?
3. 3.Aarav’s income was ₹360 and the profit was ₹150. One expense was ₹110 (stall fee). How much was the other expense, for card paper (in ₹)?
4. 4.📒 Income or expense: tutoring fees received? (a) expense (b) income
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
6. 6.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
9. 9.Gurpreet’s stall took in ₹250 on Friday, ₹100 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “buying paper cups” is income (money in). (a) True (b) False
11. 11.Farhan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹110 (transport)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: bus fare to the market? (a) income (b) expense
13. 13.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
14. 14.Gurpreet’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
15. 15.Riya’s income was ₹180 and the profit was ₹140. One expense was ₹20 (card paper). How much was the other expense, for ribbon (in ₹)?
16. 16.Tara’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹280 (lemons)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying lemons (d) a card order paid
18. 18.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) money from sales (d) bus fare to the market
19. 19.Kavya’s stall took in ₹140 on Friday, ₹210 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
20. 20.Gurpreet’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
21. 21.Joseph’s income was ₹140 and the profit was ₹80. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) income (b) expense
23. 23.True or false: “printing posters” is an expense (money out). (a) True (b) False
24. 24.Rohan’s stall took in ₹80 on Friday, ₹140 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
25. 25.Meera’s stall took in ₹210 on Friday, ₹370 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
27. 27.📒 Income or expense: paying the stall fee? (a) income (b) expense
28. 28.Kabir’s stall took in ₹120 on Friday, ₹230 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
29. 29.Gurpreet’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) a card order paid
31. 31.Gurpreet’s income was ₹230 and the profit was ₹200. One expense was ₹20 (card paper). How much was the other expense, for sugar (in ₹)?
32. 32.Joseph’s income was ₹310 and the profit was ₹60. One expense was ₹80 (ribbon). How much was the other expense, for lemons (in ₹)?
33. 33.Farhan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
34. 34.Arjun’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
35. 35.True or false: “buying lemons” is income (money in). (a) True (b) False
36. 36.Ananya’s stall took in ₹120 on Friday, ₹270 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
37. 37.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: payment for a cake order? (a) income (b) expense
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
40. 40.True or false: “tutoring fees received” is income (money in). (a) False (b) True

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