Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 891 · 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.Kavya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹100 (sugar)
   What is the profit (in ₹)?
2. 2.Aarav’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹30 (transport)
   Expense: ₹190 (ribbon)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.📒 Income or expense: buying paper cups? (a) income (b) expense
5. 5.📒 Income or expense: a card order paid? (a) expense (b) income
6. 6.Diya’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹10 (stall fee)
   Expense: ₹350 (posters)
   How much is the loss (in ₹)?
7. 7.True or false: “payment for a cake order” is income (money in). (a) False (b) True
8. 8.True or false: “money from sales” is income (money in). (a) False (b) True
9. 9.True or false: “cash from selling plants” is income (money in). (a) False (b) True
10. 10.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: money from sales? (a) expense (b) income
12. 12.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
13. 13.Ananya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
14. 14.Gurpreet’s income was ₹300 and the profit was ₹230. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
15. 15.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹70 (posters)
    Expense: ₹190 (stall fee)
    How much is the loss (in ₹)?
16. 16.True or false: “a card order paid” is income (money in). (a) False (b) True
17. 17.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
18. 18.Farhan’s income was ₹130 and the profit was ₹70. One expense was ₹30 (transport). How much was the other expense, for stall fee (in ₹)?
19. 19.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) a card order paid (d) printing posters
21. 21.True or false: “buying lemons” is income (money in). (a) True (b) False
22. 22.Saanvi’s income was ₹420 and the profit was ₹320. One expense was ₹70 (transport). How much was the other expense, for paper cups (in ₹)?
23. 23.📒 Income or expense: bus fare to the market? (a) expense (b) income
24. 24.Meera’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹180 (posters)
    Expense: ₹170 (lemons)
    How much is the loss (in ₹)?
25. 25.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
26. 26.Gurpreet’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
27. 27.Rohan’s stall took in ₹200 on Friday, ₹240 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
28. 28.Arjun’s stall took in ₹130 on Friday, ₹110 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
29. 29.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
30. 30.Farhan’s stall took in ₹160 on Friday, ₹60 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) buying lemons
32. 32.Tara’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
33. 33.Aarav’s stall took in ₹70 on Friday, ₹100 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
34. 34.Zoya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
35. 35.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) cash from selling plants
36. 36.Zoya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
37. 37.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
38. 38.📒 Income or expense: paying the stall fee? (a) expense (b) income
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) cash from selling plants (d) buying paper cups

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