Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 781 · 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.Diya’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹80 (card paper)
   Expense: ₹100 (lemons)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: paying the stall fee? (a) income (b) expense
3. 3.True or false: “buying lemons” is an expense (money out). (a) False (b) True
4. 4.Joseph’s stall took in ₹330 on Friday, ₹260 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
6. 6.Lakshmi’s stall took in ₹360 on Friday, ₹240 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) paying the stall fee (d) tutoring fees received
8. 8.True or false: “payment for a cake order” is income (money in). (a) False (b) True
9. 9.Zoya’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹170 (transport)
   Expense: ₹130 (ribbon)
   How much is the loss (in ₹)?
10. 10.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
11. 11.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
12. 12.True or false: “tutoring fees received” is income (money in). (a) True (b) False
13. 13.Tara’s income was ₹180 and the profit was ₹110. One expense was ₹40 (transport). How much was the other expense, for posters (in ₹)?
14. 14.📒 Income or expense: money from sales? (a) income (b) expense
15. 15.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
16. 16.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) cash from selling plants
17. 17.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹60 (transport)
    Expense: ₹160 (card paper)
    How much is the loss (in ₹)?
18. 18.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying lemons (d) bus fare to the market
19. 19.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) buying lemons
20. 20.Meera’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
21. 21.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
22. 22.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying paper cups (d) bus fare to the market
23. 23.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹270 (ribbon)
    How much is the loss (in ₹)?
24. 24.Kabir’s stall took in ₹230 on Friday, ₹180 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
25. 25.Lakshmi’s income was ₹390 and the profit was ₹160. One expense was ₹50 (ribbon). How much was the other expense, for posters (in ₹)?
26. 26.Dev’s stall took in ₹390 on Friday, ₹320 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
27. 27.Arjun’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
28. 28.Aarav’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
29. 29.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
30. 30.Nisha’s income was ₹180 and the profit was ₹30. One expense was ₹50 (transport). How much was the other expense, for paper cups (in ₹)?
31. 31.Vihaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: tutoring fees received? (a) expense (b) income
33. 33.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) bus fare to the market (d) tutoring fees received
34. 34.Arjun’s stall took in ₹70 on Friday, ₹70 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
35. 35.Joseph’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
36. 36.Dev’s income was ₹470 and the profit was ₹10. One expense was ₹100 (paper cups). How much was the other expense, for posters (in ₹)?
37. 37.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) money from sales (d) buying paper cups
38. 38.Kavya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: cash from selling plants? (a) expense (b) income
40. 40.Aarav’s income was ₹200 and the profit was ₹160. One expense was ₹30 (posters). How much was the other expense, for transport (in ₹)?

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