Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 565 · 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.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
2. 2.Rohan’s income was ₹440 and the profit was ₹240. One expense was ₹30 (paper cups). How much was the other expense, for sugar (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.Saanvi’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹10 (transport)
   Expense: ₹190 (card paper)
   How much is the loss (in ₹)?
6. 6.Arjun’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹70 (stall fee)
   What is the profit (in ₹)?
7. 7.Diya’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹40 (paper cups)
   Expense: ₹140 (stall fee)
   How much is the loss (in ₹)?
8. 8.True or false: “buying paper cups” is income (money in). (a) True (b) False
9. 9.Rohan’s income was ₹260 and the profit was ₹30. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
10. 10.Lakshmi’s income was ₹130 and the profit was ₹90. One expense was ₹10 (paper cups). How much was the other expense, for lemons (in ₹)?
11. 11.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
12. 12.Joseph’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: payment for a cake order? (a) income (b) expense
14. 14.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) bus fare to the market (d) paying the stall fee
15. 15.Kavya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹80 (posters)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: paying the stall fee? (a) expense (b) income
17. 17.Kabir’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
18. 18.Riya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: buying paper cups? (a) income (b) expense
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
21. 21.Zoya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹190 (card paper)
    How much is the loss (in ₹)?
22. 22.Zoya’s stall took in ₹300 on Friday, ₹200 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
23. 23.Aarav’s stall took in ₹310 on Friday, ₹370 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
24. 24.Zoya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (posters)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
25. 25.Gurpreet’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
26. 26.Meera’s income was ₹110 and the profit was ₹90. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?
27. 27.📒 Income or expense: bus fare to the market? (a) income (b) expense
28. 28.Ananya’s income was ₹370 and the profit was ₹200. One expense was ₹100 (posters). How much was the other expense, for transport (in ₹)?
29. 29.📒 Income or expense: a card order paid? (a) income (b) expense
30. 30.Tara’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹220 (stall fee)
    How much is the loss (in ₹)?
31. 31.Meera’s stall took in ₹280 on Friday, ₹50 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
32. 32.Saanvi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
33. 33.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
34. 34.Kavya’s stall took in ₹120 on Friday, ₹220 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “paying the stall fee” is income (money in). (a) False (b) True
36. 36.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) tutoring fees received (d) cash from selling plants
37. 37.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
38. 38.Arjun’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: printing posters? (a) income (b) expense
40. 40.Kabir’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?

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