Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 13 · 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.Meera’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹180 (paper cups)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) payment for a cake order (d) tutoring fees received
3. 3.Tara’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹470 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹140 (posters)
   What is the profit (in ₹)?
4. 4.True or false: “money from sales” is income (money in). (a) True (b) False
5. 5.True or false: “payment for a cake order” is income (money in). (a) False (b) True
6. 6.Kavya’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹210 (transport)
   Expense: ₹20 (posters)
   How much is the loss (in ₹)?
7. 7.Arjun’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹180 (posters)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
8. 8.Nisha’s income was ₹460 and the profit was ₹410. One expense was ₹40 (lemons). How much was the other expense, for ribbon (in ₹)?
9. 9.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
10. 10.Diya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: paying the stall fee? (a) income (b) expense
12. 12.Kabir’s income was ₹250 and the profit was ₹50. One expense was ₹40 (lemons). How much was the other expense, for sugar (in ₹)?
13. 13.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying paper cups (d) buying lemons
14. 14.True or false: “bus fare to the market” is income (money in). (a) True (b) False
15. 15.True or false: “cash from selling plants” is income (money in). (a) False (b) True
16. 16.Rohan’s stall took in ₹380 on Friday, ₹360 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
17. 17.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
18. 18.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
19. 19.Lakshmi’s income was ₹500 and the profit was ₹380. One expense was ₹110 (posters). How much was the other expense, for lemons (in ₹)?
20. 20.Nisha’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
21. 21.Vihaan’s income was ₹350 and the profit was ₹330. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
22. 22.True or false: “a card order paid” is an expense (money out). (a) False (b) True
23. 23.Diya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
24. 24.Meera’s income was ₹430 and the profit was ₹200. One expense was ₹110 (card paper). How much was the other expense, for sugar (in ₹)?
25. 25.Rohan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (posters)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
26. 26.Aarav’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
27. 27.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
28. 28.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
30. 30.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
31. 31.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
32. 32.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) buying paper cups (d) a card order paid
33. 33.📒 Income or expense: cash from selling plants? (a) income (b) expense
34. 34.Joseph’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
35. 35.Kabir’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
36. 36.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying lemons (d) a card order paid
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) a card order paid (d) tutoring fees received
39. 39.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
40. 40.Ananya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?

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