Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 655 · 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.Vihaan’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹110 (stall fee)
   Expense: ₹90 (transport)
   What is the profit (in ₹)?
2. 2.Gurpreet’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹60 (transport)
   Expense: ₹120 (sugar)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: money from sales? (a) income (b) expense
4. 4.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) printing posters
5. 5.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) bus fare to the market
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.Vihaan’s income was ₹240 and the profit was ₹100. One expense was ₹30 (transport). How much was the other expense, for stall fee (in ₹)?
8. 8.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) bus fare to the market
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) buying lemons
10. 10.Meera’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) bus fare to the market
12. 12.Kavya’s stall took in ₹330 on Friday, ₹50 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
13. 13.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
14. 14.True or false: “a card order paid” is income (money in). (a) False (b) True
15. 15.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.True or false: “a card order paid” is an expense (money out). (a) True (b) False
18. 18.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) buying paper cups (d) bus fare to the market
19. 19.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying paper cups (d) printing posters
20. 20.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
21. 21.True or false: “printing posters” is income (money in). (a) False (b) True
22. 22.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
23. 23.Ishaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
24. 24.Ananya’s stall took in ₹350 on Friday, ₹190 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: tutoring fees received? (a) income (b) expense
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
27. 27.Meera’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
28. 28.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (posters)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: cash from selling plants? (a) expense (b) income
30. 30.Ananya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
31. 31.Arjun’s income was ₹140 and the profit was ₹70. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
32. 32.Zoya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
33. 33.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) buying paper cups
34. 34.📒 Income or expense: payment for a cake order? (a) expense (b) income
35. 35.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
36. 36.Ananya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹170 (transport)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: paying the stall fee? (a) income (b) expense
38. 38.Joseph’s income was ₹280 and the profit was ₹190. One expense was ₹80 (stall fee). How much was the other expense, for paper cups (in ₹)?
39. 39.Farhan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
40. 40.Arjun’s stall took in ₹200 on Friday, ₹180 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?

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