Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 625 · 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 record for the day:
   Income: ₹400 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹190 (transport)
   Expense: ₹190 (lemons)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) buying paper cups
3. 3.Meera’s income was ₹170 and the profit was ₹20. One expense was ₹30 (stall fee). How much was the other expense, for lemons (in ₹)?
4. 4.📒 Income or expense: payment for a cake order? (a) income (b) expense
5. 5.True or false: “printing posters” is income (money in). (a) True (b) False
6. 6.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) a card order paid
7. 7.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) payment for a cake order (d) buying paper cups
8. 8.Kabir’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹40 (ribbon)
   Expense: ₹120 (sugar)
   What is the profit (in ₹)?
9. 9.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
10. 10.📒 Income or expense: printing posters? (a) income (b) expense
11. 11.Aarav’s stall took in ₹70 on Friday, ₹350 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) paying the stall fee (d) payment for a cake order
13. 13.Saanvi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
14. 14.Riya’s income was ₹150 and the profit was ₹30. One expense was ₹20 (lemons). How much was the other expense, for posters (in ₹)?
15. 15.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying lemons (d) payment for a cake order
16. 16.Aarav’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
17. 17.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
18. 18.Farhan’s stall took in ₹130 on Friday, ₹250 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
19. 19.Vihaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (posters)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: tutoring fees received? (a) expense (b) income
21. 21.True or false: “a card order paid” is income (money in). (a) False (b) True
22. 22.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
23. 23.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) money from sales (d) printing posters
24. 24.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
25. 25.📒 Income or expense: paying the stall fee? (a) expense (b) income
26. 26.Arjun’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
27. 27.Arjun’s stall took in ₹300 on Friday, ₹160 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
28. 28.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
29. 29.Zoya’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
30. 30.Rohan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹250 (ribbon)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
31. 31.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
32. 32.Nisha’s income was ₹460 and the profit was ₹200. One expense was ₹20 (transport). How much was the other expense, for sugar (in ₹)?
33. 33.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
34. 34.Saanvi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
35. 35.Ishaan’s income was ₹370 and the profit was ₹140. One expense was ₹120 (card paper). How much was the other expense, for transport (in ₹)?
36. 36.Ananya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (transport)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
37. 37.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) bus fare to the market (d) a card order paid
38. 38.Arjun’s income was ₹350 and the profit was ₹320. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
39. 39.Vihaan’s income was ₹240 and the profit was ₹90. One expense was ₹100 (paper cups). How much was the other expense, for stall fee (in ₹)?
40. 40.Vihaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹240 (ribbon)
    How much is the loss (in ₹)?

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