Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 996 · 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 the day:
   Income: ₹140 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹20 (stall fee)
   Expense: ₹180 (lemons)
   What is the profit (in ₹)?
2. 2.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
3. 3.Ishaan’s income was ₹130 and the profit was ₹80. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) printing posters (d) buying paper cups
5. 5.📒 Income or expense: payment for a cake order? (a) income (b) expense
6. 6.Kabir’s income was ₹430 and the profit was ₹340. One expense was ₹10 (ribbon). How much was the other expense, for posters (in ₹)?
7. 7.Meera’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹30 (paper cups)
   What is the profit (in ₹)?
8. 8.Joseph’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹90 (paper cups)
   Expense: ₹60 (card paper)
   What is the profit (in ₹)?
9. 9.Ananya’s income was ₹450 and the profit was ₹20. One expense was ₹330 (sugar). How much was the other expense, for paper cups (in ₹)?
10. 10.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
11. 11.📒 Income or expense: bus fare to the market? (a) expense (b) income
12. 12.True or false: “money from sales” is income (money in). (a) False (b) True
13. 13.Saanvi’s income was ₹240 and the profit was ₹20. One expense was ₹80 (posters). How much was the other expense, for lemons (in ₹)?
14. 14.True or false: “a card order paid” is income (money in). (a) False (b) True
15. 15.Meera’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
16. 16.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) a card order paid (d) tutoring fees received
17. 17.Aarav’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
19. 19.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
20. 20.True or false: “buying lemons” is an expense (money out). (a) False (b) True
21. 21.Vihaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
22. 22.Gurpreet’s income was ₹280 and the profit was ₹180. One expense was ₹80 (card paper). How much was the other expense, for stall fee (in ₹)?
23. 23.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying paper cups (d) a card order paid
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.Kabir’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) payment for a cake order (d) a card order paid
27. 27.📒 Income or expense: buying paper cups? (a) income (b) expense
28. 28.Arjun’s income was ₹440 and the profit was ₹290. One expense was ₹120 (paper cups). How much was the other expense, for stall fee (in ₹)?
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) False (b) True
31. 31.📒 Income or expense: paying the stall fee? (a) expense (b) income
32. 32.📒 Income or expense: buying lemons? (a) expense (b) income
33. 33.True or false: “printing posters” is income (money in). (a) False (b) True
34. 34.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
35. 35.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
36. 36.Kabir’s stall took in ₹90 on Friday, ₹290 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
37. 37.Arjun’s stall took in ₹390 on Friday, ₹80 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
38. 38.Zoya’s income was ₹220 and the profit was ₹120. One expense was ₹60 (paper cups). How much was the other expense, for stall fee (in ₹)?
39. 39.Aarav’s stall took in ₹50 on Friday, ₹360 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
40. 40.Kabir’s stall took in ₹130 on Friday, ₹50 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?

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