Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 571 · 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.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) money from sales (d) cash from selling plants
2. 2.Joseph’s income was ₹120 and the profit was ₹20. One expense was ₹30 (stall fee). How much was the other expense, for lemons (in ₹)?
3. 3.Aarav’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹70 (lemons)
   How much is the loss (in ₹)?
4. 4.Arjun’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹70 (ribbon)
   Expense: ₹180 (paper cups)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.📒 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
7. 7.Diya’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹150 (transport)
   What is the profit (in ₹)?
8. 8.Saanvi’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹130 (sugar)
   Expense: ₹40 (ribbon)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) a card order paid (d) money from sales
10. 10.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
11. 11.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
12. 12.Ananya’s income was ₹380 and the profit was ₹120. One expense was ₹110 (lemons). How much was the other expense, for stall fee (in ₹)?
13. 13.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) buying lemons
14. 14.Farhan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
15. 15.Kavya’s income was ₹480 and the profit was ₹80. One expense was ₹20 (lemons). How much was the other expense, for paper cups (in ₹)?
16. 16.Lakshmi’s stall took in ₹220 on Friday, ₹370 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
17. 17.Kabir’s income was ₹350 and the profit was ₹240. One expense was ₹100 (paper cups). How much was the other expense, for sugar (in ₹)?
18. 18.True or false: “cash from selling plants” is income (money in). (a) True (b) False
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.📒 Income or expense: printing posters? (a) expense (b) income
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.Vihaan’s stall took in ₹330 on Friday, ₹270 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) cash from selling plants
24. 24.Saanvi’s stall took in ₹270 on Friday, ₹50 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
25. 25.Arjun’s stall took in ₹140 on Friday, ₹70 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
26. 26.Farhan’s income was ₹170 and the profit was ₹10. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
27. 27.Ananya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
28. 28.Vihaan’s stall took in ₹200 on Friday, ₹210 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
29. 29.Vihaan’s income was ₹290 and the profit was ₹190. One expense was ₹60 (ribbon). How much was the other expense, for lemons (in ₹)?
30. 30.Ishaan’s income was ₹190 and the profit was ₹20. One expense was ₹130 (posters). How much was the other expense, for lemons (in ₹)?
31. 31.Kabir’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
32. 32.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) cash from selling plants (d) payment for a cake order
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Kabir’s income was ₹100 and the profit was ₹50. One expense was ₹40 (stall fee). How much was the other expense, for posters (in ₹)?
35. 35.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) buying lemons (d) bus fare to the market
36. 36.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) bus fare to the market
37. 37.Ananya’s stall took in ₹400 on Friday, ₹130 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) printing posters (d) paying the stall fee
39. 39.Meera’s stall took in ₹300 on Friday, ₹250 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
40. 40.Riya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?

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