Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 465 · 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.Gurpreet’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.Gurpreet’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹480 (evening sales)
   Expense: ₹170 (ribbon)
   Expense: ₹130 (paper cups)
   What is the profit (in ₹)?
4. 4.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
5. 5.Tara’s stall took in ₹70 on Friday, ₹120 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
7. 7.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) buying lemons (d) paying the stall fee
8. 8.Zoya’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹160 (lemons)
   Expense: ₹30 (paper cups)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) printing posters (d) payment for a cake order
10. 10.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) tutoring fees received
11. 11.Lakshmi’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
12. 12.Riya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹330 (paper cups)
    How much is the loss (in ₹)?
13. 13.Rohan’s income was ₹120 and the profit was ₹100. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
14. 14.📒 Income or expense: paying the stall fee? (a) income (b) expense
15. 15.Joseph’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
16. 16.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
17. 17.Aarav’s income was ₹380 and the profit was ₹70. One expense was ₹190 (ribbon). How much was the other expense, for transport (in ₹)?
18. 18.Ananya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
19. 19.True or false: “buying paper cups” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: bus fare to the market? (a) income (b) expense
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.Ananya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹60 (transport)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: printing posters? (a) income (b) expense
24. 24.Joseph’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹280 (card paper)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
25. 25.Ananya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
26. 26.True or false: “paying the stall fee” is income (money in). (a) True (b) False
27. 27.True or false: “a card order paid” is an expense (money out). (a) True (b) False
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.📒 Income or expense: a card order paid? (a) expense (b) income
30. 30.Gurpreet’s stall took in ₹190 on Friday, ₹60 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
31. 31.Meera’s income was ₹350 and the profit was ₹110. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
32. 32.True or false: “money from sales” is an expense (money out). (a) False (b) True
33. 33.Diya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹150 (transport)
    Expense: ₹160 (sugar)
    How much is the loss (in ₹)?
34. 34.Saanvi’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹280 (stall fee)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
35. 35.Meera’s stall took in ₹150 on Friday, ₹150 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
36. 36.Kavya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
37. 37.Joseph’s income was ₹270 and the profit was ₹240. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
38. 38.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) money from sales (d) buying paper cups
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook

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