Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 366 · 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.Kabir’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹30 (card paper)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) a card order paid (d) cash from selling plants
3. 3.Meera’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹380 (evening sales)
   Expense: ₹80 (paper cups)
   Expense: ₹180 (lemons)
   What is the profit (in ₹)?
4. 4.Vihaan’s stall took in ₹60 on Friday, ₹170 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
5. 5.Aarav’s stall took in ₹100 on Friday, ₹70 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
7. 7.Nisha’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹60 (sugar)
   Expense: ₹20 (lemons)
   What is the profit (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
9. 9.Diya’s stall took in ₹340 on Friday, ₹380 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: buying paper cups? (a) income (b) expense
11. 11.Kabir’s income was ₹120 and the profit was ₹20. One expense was ₹90 (stall fee). How much was the other expense, for transport (in ₹)?
12. 12.Vihaan’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
13. 13.Diya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: paying the stall fee? (a) expense (b) income
15. 15.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
16. 16.Gurpreet’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹190 (posters)
    How much is the loss (in ₹)?
17. 17.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
18. 18.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
19. 19.True or false: “money from sales” is an expense (money out). (a) True (b) False
20. 20.True or false: “buying lemons” is income (money in). (a) False (b) True
21. 21.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
22. 22.Riya’s income was ₹450 and the profit was ₹90. One expense was ₹310 (transport). How much was the other expense, for sugar (in ₹)?
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.📒 Income or expense: payment for a cake order? (a) expense (b) income
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.📒 Income or expense: bus fare to the market? (a) income (b) expense
27. 27.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) cash from selling plants (d) buying lemons
29. 29.📒 Income or expense: a card order paid? (a) income (b) expense
30. 30.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) cash from selling plants (d) money from sales
32. 32.True or false: “printing posters” is income (money in). (a) False (b) True
33. 33.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
34. 34.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
35. 35.Tara’s income was ₹280 and the profit was ₹50. One expense was ₹200 (paper cups). How much was the other expense, for sugar (in ₹)?
36. 36.Zoya’s income was ₹430 and the profit was ₹10. One expense was ₹190 (transport). How much was the other expense, for card paper (in ₹)?
37. 37.True or false: “tutoring fees received” is income (money in). (a) True (b) False
38. 38.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) a card order paid
39. 39.Dev’s income was ₹350 and the profit was ₹10. One expense was ₹240 (ribbon). How much was the other expense, for lemons (in ₹)?
40. 40.Lakshmi’s income was ₹230 and the profit was ₹20. One expense was ₹140 (ribbon). How much was the other expense, for posters (in ₹)?

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