Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 796 · 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.Meera’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹190 (card paper)
   Expense: ₹130 (ribbon)
   What is the profit (in ₹)?
2. 2.📒 Income or expense: payment for a cake order? (a) income (b) expense
3. 3.Vihaan’s income was ₹310 and the profit was ₹280. One expense was ₹10 (posters). How much was the other expense, for transport (in ₹)?
4. 4.True or false: “buying paper cups” is income (money in). (a) False (b) True
5. 5.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
6. 6.📒 Income or expense: a card order paid? (a) income (b) expense
7. 7.True or false: “money from sales” is an expense (money out). (a) True (b) False
8. 8.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) a card order paid (d) tutoring fees received
9. 9.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) bus fare to the market
10. 10.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) paying the stall fee
11. 11.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying paper cups (d) tutoring fees received
12. 12.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) buying paper cups
13. 13.Ishaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
14. 14.Tara’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
15. 15.Arjun’s stall took in ₹150 on Friday, ₹70 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
16. 16.Arjun’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
17. 17.Nisha’s stall took in ₹80 on Friday, ₹380 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
18. 18.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (posters)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
19. 19.Vihaan’s stall took in ₹270 on Friday, ₹70 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) cash from selling plants
21. 21.📒 Income or expense: buying lemons? (a) income (b) expense
22. 22.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
23. 23.📒 Income or expense: paying the stall fee? (a) income (b) expense
24. 24.📒 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
25. 25.Tara’s stall took in ₹150 on Friday, ₹200 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
26. 26.Gurpreet’s income was ₹220 and the profit was ₹180. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
27. 27.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
28. 28.📒 Income or expense: printing posters? (a) expense (b) income
29. 29.Aarav’s stall took in ₹80 on Friday, ₹110 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
30. 30.Zoya’s income was ₹320 and the profit was ₹260. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
31. 31.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
32. 32.Saanvi’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
33. 33.Arjun’s stall took in ₹220 on Friday, ₹70 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
34. 34.Arjun’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
35. 35.Rohan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
37. 37.Nisha’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
38. 38.Gurpreet’s stall took in ₹340 on Friday, ₹90 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
39. 39.Rohan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) expense (b) income

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