Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 120 · 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.Joseph’s income was ₹370 and the profit was ₹190. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
2. 2.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
3. 3.Arjun’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹80 (transport)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
4. 4.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
5. 5.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) money from sales
6. 6.Kabir’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹20 (transport)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
7. 7.Rohan’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹140 (ribbon)
   Expense: ₹10 (paper cups)
   How much is the loss (in ₹)?
8. 8.Meera’s stall took in ₹250 on Friday, ₹150 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: paying the stall fee? (a) income (b) expense
10. 10.Ishaan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
11. 11.True or false: “money from sales” is an expense (money out). (a) True (b) False
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) payment for a cake order
13. 13.Kavya’s income was ₹140 and the profit was ₹20. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
14. 14.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) paying the stall fee (d) buying lemons
15. 15.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
16. 16.Meera’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹260 (posters)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
17. 17.Kabir’s stall took in ₹110 on Friday, ₹200 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “payment for a cake order” is income (money in). (a) False (b) True
19. 19.Ananya’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
20. 20.Aarav’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) income (b) expense
22. 22.Aarav’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹70 (transport)
    Expense: ₹230 (stall fee)
    How much is the loss (in ₹)?
23. 23.True or false: “buying lemons” is income (money in). (a) True (b) False
24. 24.📒 Income or expense: payment for a cake order? (a) expense (b) income
25. 25.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
26. 26.📒 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
27. 27.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
28. 28.Kabir’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
29. 29.Kavya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (posters)
    Expense: ₹180 (lemons)
    How much is the loss (in ₹)?
30. 30.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
31. 31.Kavya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: cash from selling plants? (a) income (b) expense
33. 33.Kabir’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
34. 34.Farhan’s income was ₹120 and the profit was ₹70. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
35. 35.True or false: “cash from selling plants” is income (money in). (a) False (b) True
36. 36.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) printing posters
37. 37.Rohan’s income was ₹330 and the profit was ₹140. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?
38. 38.Vihaan’s income was ₹370 and the profit was ₹60. One expense was ₹100 (sugar). How much was the other expense, for lemons (in ₹)?
39. 39.Kavya’s stall took in ₹240 on Friday, ₹100 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “buying paper cups” is an expense (money out). (a) False (b) True

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