Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 475 · 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.Arjun’s stall took in ₹380 on Friday, ₹90 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
2. 2.Lakshmi’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹360 (evening sales)
   Expense: ₹150 (stall fee)
   Expense: ₹190 (lemons)
   What is the profit (in ₹)?
3. 3.Aarav’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹130 (sugar)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying lemons (d) a card order paid
7. 7.Zoya’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹20 (posters)
   Expense: ₹130 (ribbon)
   What is the profit (in ₹)?
8. 8.True or false: “tutoring fees received” is income (money in). (a) True (b) False
9. 9.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
10. 10.Riya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
11. 11.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
12. 12.Meera’s stall took in ₹100 on Friday, ₹290 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) cash from selling plants (d) payment for a cake order
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) cash from selling plants (d) buying paper cups
15. 15.📒 Income or expense: bus fare to the market? (a) expense (b) income
16. 16.Ananya’s income was ₹110 and the profit was ₹70. One expense was ₹20 (lemons). How much was the other expense, for ribbon (in ₹)?
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) payment for a cake order (d) bus fare to the market
18. 18.Joseph’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
19. 19.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
20. 20.📒 Income or expense: paying the stall fee? (a) expense (b) income
21. 21.Ananya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹170 (stall fee)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
22. 22.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
23. 23.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) payment for a cake order
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) printing posters (d) buying lemons
25. 25.📒 Income or expense: a card order paid? (a) income (b) expense
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
27. 27.True or false: “money from sales” is an expense (money out). (a) True (b) False
28. 28.Arjun’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
30. 30.True or false: “printing posters” is income (money in). (a) True (b) False
31. 31.Gurpreet’s income was ₹380 and the profit was ₹350. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
32. 32.Kavya’s income was ₹160 and the profit was ₹90. One expense was ₹60 (paper cups). How much was the other expense, for lemons (in ₹)?
33. 33.Diya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹180 (lemons)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
34. 34.Saanvi’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
35. 35.Rohan’s stall took in ₹60 on Friday, ₹100 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
36. 36.Dev’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) income (b) expense
38. 38.Farhan’s stall took in ₹390 on Friday, ₹100 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
39. 39.Joseph’s record for the day:
    Income: ₹570 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) income (b) expense

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