Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 622 · 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.Lakshmi’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹70 (stall fee)
   Expense: ₹60 (paper cups)
   How much is the loss (in ₹)?
2. 2.Arjun’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹10 (posters)
   Expense: ₹70 (ribbon)
   How much is the loss (in ₹)?
3. 3.Joseph’s income was ₹180 and the profit was ₹90. One expense was ₹80 (paper cups). How much was the other expense, for card paper (in ₹)?
4. 4.Kabir’s income was ₹230 and the profit was ₹140. One expense was ₹60 (posters). How much was the other expense, for sugar (in ₹)?
5. 5.Diya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹360 (evening sales)
   Expense: ₹170 (lemons)
   Expense: ₹140 (sugar)
   What is the profit (in ₹)?
6. 6.Lakshmi’s stall took in ₹70 on Friday, ₹70 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying lemons (d) cash from selling plants
8. 8.Vihaan’s income was ₹210 and the profit was ₹30. One expense was ₹130 (ribbon). How much was the other expense, for lemons (in ₹)?
9. 9.Arjun’s stall took in ₹290 on Friday, ₹170 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
10. 10.Arjun’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
11. 11.True or false: “buying lemons” is an expense (money out). (a) True (b) False
12. 12.True or false: “a card order paid” is income (money in). (a) True (b) False
13. 13.Saanvi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: printing posters? (a) expense (b) income
15. 15.Farhan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
16. 16.True or false: “buying paper cups” is income (money in). (a) True (b) False
17. 17.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) buying paper cups (d) bus fare to the market
18. 18.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
19. 19.Riya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
20. 20.Gurpreet’s income was ₹470 and the profit was ₹60. One expense was ₹50 (lemons). How much was the other expense, for posters (in ₹)?
21. 21.📒 Income or expense: tutoring fees received? (a) expense (b) income
22. 22.📒 Income or expense: buying lemons? (a) income (b) expense
23. 23.True or false: “buying lemons” is income (money in). (a) True (b) False
24. 24.Diya’s income was ₹410 and the profit was ₹30. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
25. 25.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) tutoring fees received
26. 26.📒 Income or expense: a card order paid? (a) expense (b) income
27. 27.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
28. 28.Aarav’s stall took in ₹120 on Friday, ₹210 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
29. 29.Farhan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
30. 30.Farhan’s income was ₹120 and the profit was ₹30. One expense was ₹50 (transport). How much was the other expense, for paper cups (in ₹)?
31. 31.Saanvi’s income was ₹180 and the profit was ₹20. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
32. 32.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) buying paper cups
33. 33.📒 Income or expense: paying the stall fee? (a) income (b) expense
34. 34.Rohan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
35. 35.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) bus fare to the market (d) buying paper cups
36. 36.Nisha’s stall took in ₹160 on Friday, ₹110 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
37. 37.Meera’s stall took in ₹60 on Friday, ₹350 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
38. 38.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
39. 39.Aarav’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (posters)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
40. 40.Lakshmi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹220 (posters)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?

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