Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 12 · 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.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
2. 2.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
3. 3.Ananya’s stall took in ₹170 on Friday, ₹270 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
5. 5.Arjun’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹140 (transport)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
6. 6.Zoya’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹170 (transport)
   How much is the loss (in ₹)?
7. 7.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) a card order paid (d) buying paper cups
8. 8.📒 Income or expense: buying paper cups? (a) income (b) expense
9. 9.Ishaan’s stall took in ₹180 on Friday, ₹160 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
11. 11.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
12. 12.Arjun’s stall took in ₹360 on Friday, ₹310 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
14. 14.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) bus fare to the market
15. 15.Tara’s stall took in ₹200 on Friday, ₹390 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
16. 16.Lakshmi’s stall took in ₹150 on Friday, ₹120 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “printing posters” is an expense (money out). (a) True (b) False
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.True or false: “cash from selling plants” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: payment for a cake order? (a) expense (b) income
21. 21.Rohan’s income was ₹390 and the profit was ₹280. One expense was ₹80 (ribbon). How much was the other expense, for card paper (in ₹)?
22. 22.True or false: “tutoring fees received” is income (money in). (a) False (b) True
23. 23.Farhan’s income was ₹260 and the profit was ₹200. One expense was ₹10 (ribbon). How much was the other expense, for stall fee (in ₹)?
24. 24.True or false: “a card order paid” is income (money in). (a) True (b) False
25. 25.Nisha’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (transport)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
26. 26.Kavya’s income was ₹490 and the profit was ₹90. One expense was ₹360 (paper cups). How much was the other expense, for lemons (in ₹)?
27. 27.Kabir’s stall took in ₹300 on Friday, ₹140 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
28. 28.Nisha’s stall took in ₹240 on Friday, ₹350 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
29. 29.Vihaan’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
30. 30.Kavya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
31. 31.Joseph’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
32. 32.Vihaan’s stall took in ₹210 on Friday, ₹60 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
33. 33.Vihaan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: paying the stall fee? (a) income (b) expense
35. 35.Meera’s income was ₹340 and the profit was ₹40. One expense was ₹130 (transport). How much was the other expense, for ribbon (in ₹)?
36. 36.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹230 (stall fee)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: cash from selling plants? (a) expense (b) income
38. 38.Meera’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: a card order paid? (a) income (b) expense
40. 40.📒 Income or expense: buying lemons? (a) expense (b) income

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