Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 492 · 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.Ishaan’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹160 (lemons)
   Expense: ₹160 (paper cups)
   What is the profit (in ₹)?
2. 2.True or false: “money from sales” is income (money in). (a) True (b) False
3. 3.Ishaan’s stall took in ₹50 on Friday, ₹50 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “money from sales” is an expense (money out). (a) False (b) True
5. 5.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
6. 6.Farhan’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹170 (transport)
   Expense: ₹80 (lemons)
   How much is the loss (in ₹)?
7. 7.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) buying lemons (d) buying paper cups
8. 8.True or false: “a card order paid” is an expense (money out). (a) False (b) True
9. 9.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
11. 11.Ananya’s stall took in ₹290 on Friday, ₹370 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “buying lemons” is an expense (money out). (a) False (b) True
13. 13.📒 Income or expense: payment for a cake order? (a) expense (b) income
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
15. 15.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
16. 16.Riya’s income was ₹400 and the profit was ₹80. One expense was ₹30 (posters). How much was the other expense, for sugar (in ₹)?
17. 17.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
18. 18.📒 Income or expense: buying paper cups? (a) expense (b) income
19. 19.Arjun’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
20. 20.Ishaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹250 (paper cups)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.📒 Income or expense: bus fare to the market? (a) income (b) expense
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) buying lemons (d) cash from selling plants
24. 24.Ishaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
25. 25.Lakshmi’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
26. 26.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
27. 27.Ishaan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
28. 28.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
29. 29.Vihaan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
30. 30.Ananya’s income was ₹400 and the profit was ₹170. One expense was ₹220 (sugar). How much was the other expense, for stall fee (in ₹)?
31. 31.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) cash from selling plants (d) money from sales
32. 32.📒 Income or expense: money from sales? (a) expense (b) income
33. 33.Riya’s income was ₹220 and the profit was ₹40. One expense was ₹70 (stall fee). How much was the other expense, for lemons (in ₹)?
34. 34.Lakshmi’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
35. 35.True or false: “paying the stall fee” is income (money in). (a) False (b) True
36. 36.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) payment for a cake order
37. 37.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹200 (card paper)
    How much is the loss (in ₹)?
38. 38.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
39. 39.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) money from sales
40. 40.Dev’s income was ₹430 and the profit was ₹20. One expense was ₹60 (sugar). How much was the other expense, for transport (in ₹)?

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