Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 784 · 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.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
2. 2.Aarav’s stall took in ₹240 on Friday, ₹60 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
3. 3.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) bus fare to the market (d) a card order paid
4. 4.Gurpreet’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹190 (paper cups)
   Expense: ₹170 (sugar)
   What is the profit (in ₹)?
5. 5.Vihaan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹30 (posters)
   Expense: ₹200 (paper cups)
   What is the profit (in ₹)?
6. 6.Lakshmi’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹130 (ribbon)
   Expense: ₹60 (transport)
   How much is the loss (in ₹)?
7. 7.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
8. 8.Aarav’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹90 (sugar)
   Expense: ₹90 (card paper)
   What is the profit (in ₹)?
9. 9.Nisha’s stall took in ₹90 on Friday, ₹270 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “payment for a cake order” is income (money in). (a) False (b) True
11. 11.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) bus fare to the market (d) buying lemons
12. 12.Arjun’s income was ₹300 and the profit was ₹130. One expense was ₹160 (lemons). How much was the other expense, for stall fee (in ₹)?
13. 13.Joseph’s stall took in ₹260 on Friday, ₹230 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
14. 14.Zoya’s stall took in ₹100 on Friday, ₹160 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
15. 15.Ananya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
16. 16.Rohan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹130 (transport)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
17. 17.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) a card order paid (d) buying paper cups
18. 18.📒 Income or expense: tutoring fees received? (a) income (b) expense
19. 19.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Rohan’s income was ₹370 and the profit was ₹50. One expense was ₹140 (paper cups). How much was the other expense, for stall fee (in ₹)?
22. 22.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) buying paper cups
23. 23.Kavya’s stall took in ₹250 on Friday, ₹140 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
24. 24.Farhan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
25. 25.Dev’s stall took in ₹80 on Friday, ₹120 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
26. 26.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
27. 27.Rohan’s stall took in ₹50 on Friday, ₹200 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) bus fare to the market (d) paying the stall fee
29. 29.📒 Income or expense: printing posters? (a) expense (b) income
30. 30.True or false: “money from sales” is an expense (money out). (a) True (b) False
31. 31.Saanvi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
32. 32.Diya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
33. 33.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) cash from selling plants (d) payment for a cake order
34. 34.Ishaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: money from sales? (a) expense (b) income
36. 36.True or false: “a card order paid” is an expense (money out). (a) False (b) True
37. 37.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) payment for a cake order
38. 38.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
39. 39.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
40. 40.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True

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