Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 495 · 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 ₹150 on Friday, ₹60 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
3. 3.True or false: “a card order paid” is income (money in). (a) True (b) False
4. 4.True or false: “paying the stall fee” is income (money in). (a) False (b) True
5. 5.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) cash from selling plants (d) printing posters
6. 6.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) bus fare to the market (d) money from sales
8. 8.Diya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹80 (ribbon)
   Expense: ₹80 (paper cups)
   What is the profit (in ₹)?
9. 9.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) buying paper cups (d) buying lemons
10. 10.Arjun’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
11. 11.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.Rohan’s stall took in ₹390 on Friday, ₹130 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
14. 14.Lakshmi’s income was ₹210 and the profit was ₹180. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
15. 15.📒 Income or expense: paying the stall fee? (a) expense (b) income
16. 16.Nisha’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹120 (transport)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
17. 17.Farhan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
18. 18.Meera’s income was ₹450 and the profit was ₹230. One expense was ₹30 (lemons). How much was the other expense, for card paper (in ₹)?
19. 19.Gurpreet’s income was ₹430 and the profit was ₹350. One expense was ₹60 (card paper). How much was the other expense, for transport (in ₹)?
20. 20.Vihaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹10 (posters)
    Expense: ₹180 (transport)
    How much is the loss (in ₹)?
21. 21.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹270 (transport)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) expense (b) income
23. 23.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) buying paper cups
24. 24.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
25. 25.📒 Income or expense: a card order paid? (a) income (b) expense
26. 26.📒 Income or expense: payment for a cake order? (a) income (b) expense
27. 27.Arjun’s income was ₹260 and the profit was ₹240. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
28. 28.Nisha’s stall took in ₹230 on Friday, ₹90 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
29. 29.Rohan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
30. 30.Ishaan’s income was ₹340 and the profit was ₹320. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
31. 31.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) payment for a cake order (d) bus fare to the market
33. 33.📒 Income or expense: buying paper cups? (a) expense (b) income
34. 34.Aarav’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹140 (transport)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
35. 35.Meera’s stall took in ₹210 on Friday, ₹330 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
36. 36.Aarav’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (posters)
    Expense: ₹190 (lemons)
    How much is the loss (in ₹)?
37. 37.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) tutoring fees received (d) payment for a cake order
38. 38.Vihaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
39. 39.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
40. 40.Meera’s stall took in ₹70 on Friday, ₹310 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?

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