Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 615 · 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.Rohan’s income was ₹110 and the profit was ₹90. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
2. 2.Saanvi’s income was ₹190 and the profit was ₹40. One expense was ₹80 (stall fee). How much was the other expense, for sugar (in ₹)?
3. 3.📒 Income or expense: tutoring fees received? (a) income (b) expense
4. 4.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
5. 5.Meera’s stall took in ₹270 on Friday, ₹70 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
7. 7.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) bus fare to the market
8. 8.Vihaan’s income was ₹330 and the profit was ₹50. One expense was ₹240 (posters). How much was the other expense, for ribbon (in ₹)?
9. 9.Joseph’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹70 (transport)
   Expense: ₹160 (paper cups)
   How much is the loss (in ₹)?
10. 10.True or false: “tutoring fees received” is income (money in). (a) True (b) False
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) cash from selling plants
12. 12.True or false: “money from sales” is an expense (money out). (a) True (b) False
13. 13.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying paper cups (d) tutoring fees received
14. 14.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹100 (posters)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: bus fare to the market? (a) income (b) expense
16. 16.True or false: “money from sales” is income (money in). (a) False (b) True
17. 17.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) a card order paid
18. 18.Meera’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
19. 19.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: payment for a cake order? (a) income (b) expense
21. 21.Kabir’s stall took in ₹130 on Friday, ₹100 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “payment for a cake order” is income (money in). (a) True (b) False
23. 23.Tara’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) money from sales (d) buying paper cups
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) bus fare to the market (d) printing posters
26. 26.Lakshmi’s income was ₹170 and the profit was ₹120. One expense was ₹20 (lemons). How much was the other expense, for stall fee (in ₹)?
27. 27.Farhan’s income was ₹290 and the profit was ₹130. One expense was ₹40 (card paper). How much was the other expense, for sugar (in ₹)?
28. 28.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) payment for a cake order
29. 29.True or false: “a card order paid” is income (money in). (a) True (b) False
30. 30.📒 Income or expense: paying the stall fee? (a) income (b) expense
31. 31.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) printing posters (d) payment for a cake order
32. 32.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) payment for a cake order (d) a card order paid
33. 33.Ishaan’s record for the day:
    Income: ₹520 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
34. 34.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) printing posters (d) tutoring fees received
35. 35.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
36. 36.Kavya’s stall took in ₹290 on Friday, ₹50 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
37. 37.Riya’s income was ₹360 and the profit was ₹180. One expense was ₹40 (transport). How much was the other expense, for lemons (in ₹)?
38. 38.True or false: “buying lemons” is income (money in). (a) True (b) False
39. 39.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: buying lemons? (a) income (b) expense

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