Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 718 · 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.📒 Income or expense: tutoring fees received? (a) income (b) expense
2. 2.📒 Income or expense: buying lemons? (a) income (b) expense
3. 3.📒 Income or expense: bus fare to the market? (a) expense (b) income
4. 4.True or false: “bus fare to the market” is income (money in). (a) True (b) False
5. 5.Farhan’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹250 (stall fee)
   Expense: ₹50 (transport)
   How much is the loss (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
7. 7.Zoya’s stall took in ₹350 on Friday, ₹280 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
8. 8.Arjun’s income was ₹360 and the profit was ₹50. One expense was ₹260 (posters). How much was the other expense, for transport (in ₹)?
9. 9.📒 Income or expense: a card order paid? (a) income (b) expense
10. 10.Joseph’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
11. 11.Tara’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
12. 12.Kavya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
13. 13.Kavya’s stall took in ₹300 on Friday, ₹70 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
14. 14.Kabir’s stall took in ₹290 on Friday, ₹50 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
15. 15.Riya’s income was ₹200 and the profit was ₹30. One expense was ₹20 (transport). How much was the other expense, for card paper (in ₹)?
16. 16.True or false: “tutoring fees received” is income (money in). (a) True (b) False
17. 17.Meera’s stall took in ₹90 on Friday, ₹100 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
18. 18.Zoya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
19. 19.Diya’s income was ₹350 and the profit was ₹230. One expense was ₹20 (card paper). How much was the other expense, for stall fee (in ₹)?
20. 20.📒 Income or expense: money from sales? (a) income (b) expense
21. 21.Meera’s stall took in ₹390 on Friday, ₹230 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “buying lemons” is income (money in). (a) False (b) True
23. 23.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) tutoring fees received (d) buying paper cups
24. 24.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) buying paper cups
25. 25.Lakshmi’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
26. 26.True or false: “buying lemons” is an expense (money out). (a) False (b) True
27. 27.Meera’s income was ₹320 and the profit was ₹290. One expense was ₹10 (ribbon). How much was the other expense, for card paper (in ₹)?
28. 28.Zoya’s stall took in ₹60 on Friday, ₹190 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
29. 29.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
30. 30.Vihaan’s income was ₹460 and the profit was ₹150. One expense was ₹250 (paper cups). How much was the other expense, for card paper (in ₹)?
31. 31.📒 Income or expense: printing posters? (a) expense (b) income
32. 32.Arjun’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹370 (transport)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
33. 33.True or false: “payment for a cake order” is income (money in). (a) False (b) True
34. 34.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) paying the stall fee (d) printing posters
35. 35.Aarav’s income was ₹430 and the profit was ₹40. One expense was ₹320 (lemons). How much was the other expense, for sugar (in ₹)?
36. 36.Kavya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹190 (posters)
    How much is the loss (in ₹)?
37. 37.Ananya’s income was ₹460 and the profit was ₹120. One expense was ₹70 (sugar). How much was the other expense, for stall fee (in ₹)?
38. 38.Lakshmi’s income was ₹310 and the profit was ₹240. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
39. 39.Meera’s stall took in ₹290 on Friday, ₹130 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
40. 40.Kavya’s income was ₹380 and the profit was ₹280. One expense was ₹30 (ribbon). How much was the other expense, for stall fee (in ₹)?

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