Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 482 · 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.Diya’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹100 (sugar)
   Expense: ₹20 (posters)
   What is the profit (in ₹)?
2. 2.Arjun’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹190 (posters)
   What is the profit (in ₹)?
3. 3.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
4. 4.Dev’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹100 (paper cups)
   Expense: ₹130 (posters)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.Aarav’s stall took in ₹90 on Friday, ₹200 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
7. 7.Aarav’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹150 (card paper)
   Expense: ₹100 (lemons)
   What is the profit (in ₹)?
8. 8.True or false: “payment for a cake order” is income (money in). (a) True (b) False
9. 9.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) money from sales (d) printing posters
11. 11.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
12. 12.Saanvi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
13. 13.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) printing posters
14. 14.📒 Income or expense: money from sales? (a) expense (b) income
15. 15.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) cash from selling plants
16. 16.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
17. 17.Ishaan’s income was ₹400 and the profit was ₹240. One expense was ₹70 (stall fee). How much was the other expense, for sugar (in ₹)?
18. 18.Saanvi’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
19. 19.Dev’s income was ₹280 and the profit was ₹20. One expense was ₹70 (ribbon). How much was the other expense, for posters (in ₹)?
20. 20.Kavya’s income was ₹150 and the profit was ₹130. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
21. 21.Arjun’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹90 (transport)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: buying paper cups? (a) income (b) expense
23. 23.Tara’s income was ₹480 and the profit was ₹300. One expense was ₹60 (ribbon). How much was the other expense, for card paper (in ₹)?
24. 24.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) tutoring fees received
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) tutoring fees received (d) money from sales
27. 27.True or false: “cash from selling plants” is income (money in). (a) True (b) False
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) a card order paid
29. 29.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
30. 30.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹320 (posters)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
31. 31.Vihaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
32. 32.True or false: “buying lemons” is income (money in). (a) True (b) False
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Riya’s stall took in ₹100 on Friday, ₹100 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
35. 35.Diya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) True (b) False
37. 37.📒 Income or expense: payment for a cake order? (a) expense (b) income
38. 38.Aarav’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
39. 39.Kavya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹250 (stall fee)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
40. 40.Joseph’s stall took in ₹310 on Friday, ₹340 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?

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