Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 578 · 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.📒 Income or expense: payment for a cake order? (a) income (b) expense
2. 2.Aarav’s income was ₹320 and the profit was ₹110. One expense was ₹110 (transport). How much was the other expense, for paper cups (in ₹)?
3. 3.Aarav’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹120 (stall fee)
   What is the profit (in ₹)?
4. 4.Meera’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹190 (posters)
   Expense: ₹100 (sugar)
   What is the profit (in ₹)?
5. 5.Dev’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
6. 6.Lakshmi’s income was ₹140 and the profit was ₹120. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
7. 7.True or false: “buying lemons” is an expense (money out). (a) True (b) False
8. 8.Lakshmi’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹50 (sugar)
   Expense: ₹250 (stall fee)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) buying lemons
10. 10.Meera’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
11. 11.Ananya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
12. 12.Kavya’s record for the day:
    Income: ₹470 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
13. 13.Tara’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹210 (lemons)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) payment for a cake order
15. 15.True or false: “tutoring fees received” is income (money in). (a) True (b) False
16. 16.Aarav’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
17. 17.Aarav’s income was ₹170 and the profit was ₹80. One expense was ₹40 (transport). How much was the other expense, for ribbon (in ₹)?
18. 18.📒 Income or expense: money from sales? (a) expense (b) income
19. 19.Zoya’s income was ₹440 and the profit was ₹120. One expense was ₹170 (lemons). How much was the other expense, for sugar (in ₹)?
20. 20.Kabir’s stall took in ₹210 on Friday, ₹160 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) a card order paid
22. 22.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) payment for a cake order (d) a card order paid
23. 23.True or false: “printing posters” is income (money in). (a) False (b) True
24. 24.Rohan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
25. 25.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
26. 26.📒 Income or expense: printing posters? (a) expense (b) income
27. 27.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
28. 28.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
29. 29.📒 Income or expense: tutoring fees received? (a) income (b) expense
30. 30.Rohan’s income was ₹310 and the profit was ₹60. One expense was ₹40 (lemons). How much was the other expense, for card paper (in ₹)?
31. 31.📒 Income or expense: a card order paid? (a) income (b) expense
32. 32.Dev’s stall took in ₹350 on Friday, ₹110 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
33. 33.Rohan’s stall took in ₹190 on Friday, ₹100 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
34. 34.Aarav’s stall took in ₹210 on Friday, ₹150 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
35. 35.Tara’s stall took in ₹240 on Friday, ₹400 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
36. 36.Gurpreet’s income was ₹320 and the profit was ₹110. One expense was ₹200 (stall fee). How much was the other expense, for sugar (in ₹)?
37. 37.Kabir’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
38. 38.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
39. 39.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
40. 40.Nisha’s stall took in ₹200 on Friday, ₹290 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?

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