Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 121 · 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.Vihaan’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹130 (sugar)
   Expense: ₹70 (card paper)
   How much is the loss (in ₹)?
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
3. 3.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) bus fare to the market
4. 4.True or false: “paying the stall fee” is income (money in). (a) True (b) False
5. 5.True or false: “buying lemons” is income (money in). (a) True (b) False
6. 6.Farhan’s income was ₹140 and the profit was ₹30. One expense was ₹100 (posters). How much was the other expense, for lemons (in ₹)?
7. 7.📒 Income or expense: tutoring fees received? (a) income (b) expense
8. 8.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
9. 9.Kavya’s stall took in ₹100 on Friday, ₹290 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
10. 10.Tara’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
11. 11.Riya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
12. 12.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) printing posters
13. 13.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: cash from selling plants? (a) income (b) expense
15. 15.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) paying the stall fee
17. 17.Ishaan’s income was ₹320 and the profit was ₹290. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
18. 18.True or false: “bus fare to the market” is income (money in). (a) False (b) True
19. 19.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
20. 20.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
21. 21.Vihaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹190 (paper cups)
    How much is the loss (in ₹)?
22. 22.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
23. 23.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
24. 24.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) printing posters (d) cash from selling plants
26. 26.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) buying paper cups (d) printing posters
27. 27.Tara’s income was ₹490 and the profit was ₹20. One expense was ₹100 (transport). How much was the other expense, for lemons (in ₹)?
28. 28.Aarav’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
29. 29.Farhan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
30. 30.Kavya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
31. 31.Lakshmi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) money from sales (d) tutoring fees received
33. 33.Lakshmi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
34. 34.True or false: “payment for a cake order” is income (money in). (a) True (b) False
35. 35.Farhan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
36. 36.Farhan’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
37. 37.Vihaan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: payment for a cake order? (a) income (b) expense
39. 39.📒 Income or expense: buying paper cups? (a) income (b) expense
40. 40.📒 Income or expense: printing posters? (a) income (b) expense

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