Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 608 · 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.Farhan’s stall took in ₹390 on Friday, ₹320 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: buying paper cups? (a) income (b) expense
3. 3.True or false: “buying lemons” is an expense (money out). (a) True (b) False
4. 4.Kabir’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹100 (ribbon)
   Expense: ₹140 (stall fee)
   How much is the loss (in ₹)?
5. 5.Riya’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹310 (card paper)
   Expense: ₹20 (paper cups)
   How much is the loss (in ₹)?
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) tutoring fees received
7. 7.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) bus fare to the market (d) a card order paid
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) buying lemons (d) money from sales
9. 9.Aarav’s income was ₹470 and the profit was ₹50. One expense was ₹360 (paper cups). How much was the other expense, for lemons (in ₹)?
10. 10.Meera’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹150 (transport)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: bus fare to the market? (a) income (b) expense
12. 12.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
13. 13.True or false: “tutoring fees received” is income (money in). (a) False (b) True
14. 14.📒 Income or expense: money from sales? (a) income (b) expense
15. 15.Gurpreet’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
16. 16.Nisha’s stall took in ₹60 on Friday, ₹110 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
17. 17.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
18. 18.Gurpreet’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
19. 19.True or false: “printing posters” is income (money in). (a) False (b) True
20. 20.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) cash from selling plants
21. 21.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) payment for a cake order
22. 22.Saanvi’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
23. 23.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
24. 24.📒 Income or expense: payment for a cake order? (a) income (b) expense
25. 25.Arjun’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
26. 26.Lakshmi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
27. 27.Aarav’s stall took in ₹250 on Friday, ₹250 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
28. 28.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
29. 29.Vihaan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹210 (transport)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
30. 30.True or false: “printing posters” is an expense (money out). (a) False (b) True
31. 31.Saanvi’s income was ₹150 and the profit was ₹80. One expense was ₹20 (sugar). How much was the other expense, for posters (in ₹)?
32. 32.Lakshmi’s stall took in ₹340 on Friday, ₹100 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
33. 33.Ishaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (posters)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
34. 34.True or false: “buying lemons” is income (money in). (a) False (b) True
35. 35.Arjun’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹150 (transport)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
36. 36.Diya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
37. 37.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
38. 38.Diya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
39. 39.Kabir’s income was ₹480 and the profit was ₹390. One expense was ₹70 (ribbon). How much was the other expense, for paper cups (in ₹)?
40. 40.True or false: “a card order paid” is income (money in). (a) False (b) True

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