Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 580 · 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: a card order paid? (a) income (b) expense
2. 2.📒 Income or expense: money from sales? (a) income (b) expense
3. 3.📒 Income or expense: buying paper cups? (a) income (b) expense
4. 4.Kabir’s income was ₹300 and the profit was ₹170. One expense was ₹120 (stall fee). How much was the other expense, for lemons (in ₹)?
5. 5.Joseph’s stall took in ₹240 on Friday, ₹300 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
6. 6.Kavya’s stall took in ₹360 on Friday, ₹330 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “bus fare to the market” is income (money in). (a) True (b) False
8. 8.📒 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
9. 9.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
10. 10.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
11. 11.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) cash from selling plants (d) tutoring fees received
12. 12.Diya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
13. 13.Joseph’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹180 (transport)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
14. 14.True or false: “buying lemons” is income (money in). (a) True (b) False
15. 15.Diya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
16. 16.Kavya’s stall took in ₹160 on Friday, ₹160 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
17. 17.Kabir’s stall took in ₹130 on Friday, ₹290 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying lemons (d) cash from selling plants
19. 19.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) printing posters (d) paying the stall fee
20. 20.Diya’s income was ₹280 and the profit was ₹60. One expense was ₹10 (paper cups). How much was the other expense, for lemons (in ₹)?
21. 21.Meera’s income was ₹470 and the profit was ₹230. One expense was ₹50 (lemons). How much was the other expense, for stall fee (in ₹)?
22. 22.Vihaan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: bus fare to the market? (a) income (b) expense
24. 24.Arjun’s income was ₹140 and the profit was ₹80. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
25. 25.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
26. 26.True or false: “buying paper cups” is income (money in). (a) True (b) False
27. 27.Diya’s stall took in ₹290 on Friday, ₹280 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
28. 28.Arjun’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹230 (sugar)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
29. 29.Vihaan’s income was ₹490 and the profit was ₹310. One expense was ₹50 (sugar). How much was the other expense, for card paper (in ₹)?
30. 30.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
31. 31.Arjun’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹280 (ribbon)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
33. 33.Aarav’s income was ₹450 and the profit was ₹300. One expense was ₹80 (posters). How much was the other expense, for transport (in ₹)?
34. 34.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
35. 35.Joseph’s stall took in ₹320 on Friday, ₹240 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: cash from selling plants? (a) income (b) expense
37. 37.Farhan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
38. 38.Vihaan’s income was ₹310 and the profit was ₹240. One expense was ₹30 (lemons). How much was the other expense, for ribbon (in ₹)?
39. 39.Farhan’s income was ₹500 and the profit was ₹30. One expense was ₹60 (sugar). How much was the other expense, for stall fee (in ₹)?
40. 40.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) money from sales (d) a card order paid

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