Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 885 · 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.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) payment for a cake order (d) money from sales
2. 2.Aarav’s stall took in ₹200 on Friday, ₹370 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
3. 3.📒 Income or expense: a card order paid? (a) income (b) expense
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
6. 6.Kabir’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹50 (sugar)
   Expense: ₹170 (stall fee)
   What is the profit (in ₹)?
7. 7.Rohan’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹140 (paper cups)
   Expense: ₹20 (lemons)
   How much is the loss (in ₹)?
8. 8.Rohan’s income was ₹380 and the profit was ₹190. One expense was ₹160 (card paper). How much was the other expense, for stall fee (in ₹)?
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) printing posters
10. 10.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) money from sales (d) tutoring fees received
11. 11.True or false: “payment for a cake order” is income (money in). (a) False (b) True
12. 12.Lakshmi’s income was ₹190 and the profit was ₹100. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
13. 13.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
14. 14.True or false: “buying paper cups” is income (money in). (a) False (b) True
15. 15.Joseph’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
16. 16.True or false: “a card order paid” is income (money in). (a) True (b) False
17. 17.True or false: “tutoring fees received” is income (money in). (a) False (b) True
18. 18.Kavya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
19. 19.Tara’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹70 (posters)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
20. 20.Zoya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
21. 21.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
22. 22.Ananya’s stall took in ₹50 on Friday, ₹70 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
23. 23.Vihaan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
24. 24.Aarav’s income was ₹270 and the profit was ₹70. One expense was ₹130 (stall fee). How much was the other expense, for transport (in ₹)?
25. 25.Arjun’s stall took in ₹130 on Friday, ₹190 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “buying lemons” is an expense (money out). (a) False (b) True
27. 27.Kabir’s income was ₹210 and the profit was ₹10. One expense was ₹50 (stall fee). How much was the other expense, for lemons (in ₹)?
28. 28.Diya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
29. 29.Joseph’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
30. 30.Kabir’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
31. 31.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
32. 32.Kabir’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
33. 33.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
34. 34.Rohan’s income was ₹120 and the profit was ₹90. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
35. 35.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
36. 36.True or false: “a card order paid” is an expense (money out). (a) True (b) False
37. 37.📒 Income or expense: buying paper cups? (a) expense (b) income
38. 38.Ishaan’s income was ₹370 and the profit was ₹320. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
39. 39.Kavya’s income was ₹130 and the profit was ₹20. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
40. 40.Joseph’s stall took in ₹90 on Friday, ₹290 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?

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