Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 545 · 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.Aarav’s record for the day:
   Income: ₹310 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹170 (sugar)
   Expense: ₹60 (stall fee)
   What is the profit (in ₹)?
2. 2.True or false: “buying lemons” is an expense (money out). (a) False (b) True
3. 3.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
4. 4.Tara’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹190 (card paper)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) bus fare to the market
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.Gurpreet’s stall took in ₹200 on Friday, ₹60 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
8. 8.Lakshmi’s income was ₹310 and the profit was ₹50. One expense was ₹250 (card paper). How much was the other expense, for ribbon (in ₹)?
9. 9.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
10. 10.Kavya’s stall took in ₹270 on Friday, ₹230 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “cash from selling plants” is income (money in). (a) False (b) True
12. 12.True or false: “a card order paid” is income (money in). (a) False (b) True
13. 13.Gurpreet’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
14. 14.Dev’s stall took in ₹190 on Friday, ₹180 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
15. 15.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
16. 16.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
17. 17.Rohan’s income was ₹170 and the profit was ₹90. One expense was ₹20 (stall fee). How much was the other expense, for transport (in ₹)?
18. 18.📒 Income or expense: printing posters? (a) income (b) expense
19. 19.True or false: “a card order paid” is an expense (money out). (a) False (b) True
20. 20.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) money from sales (d) tutoring fees received
21. 21.Aarav’s stall took in ₹280 on Friday, ₹90 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
22. 22.Tara’s income was ₹270 and the profit was ₹50. One expense was ₹170 (lemons). How much was the other expense, for paper cups (in ₹)?
23. 23.Dev’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
24. 24.Lakshmi’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
25. 25.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
26. 26.Zoya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹270 (transport)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
27. 27.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (transport)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
28. 28.Meera’s income was ₹140 and the profit was ₹30. One expense was ₹60 (paper cups). How much was the other expense, for lemons (in ₹)?
29. 29.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
30. 30.Kabir’s stall took in ₹250 on Friday, ₹310 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Zoya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) a card order paid (d) printing posters
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
34. 34.True or false: “paying the stall fee” is income (money in). (a) False (b) True
35. 35.Joseph’s stall took in ₹150 on Friday, ₹80 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
36. 36.Gurpreet’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (posters)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
37. 37.True or false: “payment for a cake order” is income (money in). (a) False (b) True
38. 38.Dev’s stall took in ₹150 on Friday, ₹360 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) money from sales (d) a card order paid
40. 40.True or false: “money from sales” is income (money in). (a) True (b) False

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