Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 65 · 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 stall took in ₹110 on Friday, ₹70 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: money from sales? (a) income (b) expense
3. 3.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) printing posters
4. 4.Gurpreet’s income was ₹140 and the profit was ₹50. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
5. 5.📒 Income or expense: payment for a cake order? (a) expense (b) income
6. 6.Saanvi’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹70 (transport)
   What is the profit (in ₹)?
7. 7.Rohan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹130 (ribbon)
   Expense: ₹170 (transport)
   What is the profit (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
9. 9.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
10. 10.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
11. 11.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) buying lemons
12. 12.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
13. 13.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) buying lemons (d) paying the stall fee
14. 14.Ishaan’s stall took in ₹80 on Friday, ₹340 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) bus fare to the market (d) printing posters
16. 16.Ananya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
17. 17.Ananya’s income was ₹250 and the profit was ₹90. One expense was ₹130 (stall fee). How much was the other expense, for posters (in ₹)?
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) a card order paid (d) payment for a cake order
20. 20.True or false: “buying paper cups” is income (money in). (a) False (b) True
21. 21.Riya’s income was ₹390 and the profit was ₹60. One expense was ₹120 (paper cups). How much was the other expense, for ribbon (in ₹)?
22. 22.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
23. 23.Saanvi’s stall took in ₹390 on Friday, ₹220 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
24. 24.Arjun’s stall took in ₹130 on Friday, ₹380 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
25. 25.Diya’s stall took in ₹400 on Friday, ₹120 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
26. 26.Kavya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
27. 27.Ishaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
29. 29.📒 Income or expense: cash from selling plants? (a) income (b) expense
30. 30.📒 Income or expense: tutoring fees received? (a) expense (b) income
31. 31.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
32. 32.Ananya’s income was ₹140 and the profit was ₹90. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
33. 33.Aarav’s stall took in ₹50 on Friday, ₹120 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) bus fare to the market
35. 35.📒 Income or expense: paying the stall fee? (a) expense (b) income
36. 36.True or false: “printing posters” is an expense (money out). (a) True (b) False
37. 37.True or false: “buying lemons” is an expense (money out). (a) False (b) True
38. 38.Tara’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
39. 39.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
40. 40.Farhan’s income was ₹170 and the profit was ₹110. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?

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