Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 719 · 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: ₹200 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹110 (lemons)
   Expense: ₹180 (stall fee)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) payment for a cake order
3. 3.Nisha’s stall took in ₹160 on Friday, ₹60 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
4. 4.Gurpreet’s income was ₹160 and the profit was ₹30. One expense was ₹40 (ribbon). How much was the other expense, for lemons (in ₹)?
5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
6. 6.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) printing posters
7. 7.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
8. 8.True or false: “a card order paid” is income (money in). (a) False (b) True
9. 9.Lakshmi’s stall took in ₹220 on Friday, ₹210 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
10. 10.Ishaan’s stall took in ₹100 on Friday, ₹370 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
11. 11.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
12. 12.Gurpreet’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
13. 13.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
14. 14.Kabir’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
15. 15.Farhan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
16. 16.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
17. 17.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
18. 18.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) a card order paid
19. 19.Riya’s income was ₹110 and the profit was ₹70. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
20. 20.Kavya’s stall took in ₹390 on Friday, ₹80 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
21. 21.Diya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: a card order paid? (a) income (b) expense
23. 23.Arjun’s income was ₹300 and the profit was ₹40. One expense was ₹170 (stall fee). How much was the other expense, for posters (in ₹)?
24. 24.True or false: “printing posters” is an expense (money out). (a) False (b) True
25. 25.📒 Income or expense: printing posters? (a) income (b) expense
26. 26.Gurpreet’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
27. 27.Kabir’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹160 (ribbon)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
28. 28.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹250 (transport)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: payment for a cake order? (a) income (b) expense
30. 30.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
31. 31.Joseph’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
32. 32.Rohan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
33. 33.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) bus fare to the market (d) buying lemons
34. 34.True or false: “tutoring fees received” is income (money in). (a) True (b) False
35. 35.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) buying paper cups
36. 36.Aarav’s income was ₹200 and the profit was ₹160. One expense was ₹20 (transport). How much was the other expense, for stall fee (in ₹)?
37. 37.Lakshmi’s stall took in ₹320 on Friday, ₹150 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “payment for a cake order” is income (money in). (a) False (b) True
39. 39.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) tutoring fees received (d) printing posters
40. 40.Kabir’s stall took in ₹290 on Friday, ₹70 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?

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