Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 144 · 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 ₹460 and the profit was ₹240. One expense was ₹200 (stall fee). How much was the other expense, for sugar (in ₹)?
2. 2.Ananya’s income was ₹200 and the profit was ₹70. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
3. 3.Tara’s income was ₹310 and the profit was ₹80. One expense was ₹200 (sugar). How much was the other expense, for stall fee (in ₹)?
4. 4.Nisha’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹110 (sugar)
   What is the profit (in ₹)?
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) printing posters
6. 6.Arjun’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹260 (transport)
   Expense: ₹60 (card paper)
   How much is the loss (in ₹)?
7. 7.Saanvi’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹10 (sugar)
   Expense: ₹240 (paper cups)
   How much is the loss (in ₹)?
8. 8.True or false: “paying the stall fee” is income (money in). (a) False (b) True
9. 9.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
10. 10.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying lemons (d) printing posters
11. 11.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) buying lemons
12. 12.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying paper cups (d) money from sales
13. 13.Kavya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
14. 14.True or false: “printing posters” is an expense (money out). (a) True (b) False
15. 15.📒 Income or expense: buying lemons? (a) income (b) expense
16. 16.True or false: “cash from selling plants” is income (money in). (a) False (b) True
17. 17.📒 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
18. 18.Tara’s income was ₹170 and the profit was ₹10. One expense was ₹120 (ribbon). How much was the other expense, for transport (in ₹)?
19. 19.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) paying the stall fee
20. 20.Ananya’s income was ₹480 and the profit was ₹70. One expense was ₹390 (stall fee). How much was the other expense, for lemons (in ₹)?
21. 21.📒 Income or expense: money from sales? (a) income (b) expense
22. 22.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) a card order paid (d) cash from selling plants
23. 23.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹530 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
24. 24.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) money from sales (d) paying the stall fee
25. 25.True or false: “buying lemons” is income (money in). (a) True (b) False
26. 26.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
27. 27.Nisha’s income was ₹470 and the profit was ₹320. One expense was ₹110 (paper cups). How much was the other expense, for stall fee (in ₹)?
28. 28.Arjun’s stall took in ₹150 on Friday, ₹380 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
30. 30.Zoya’s stall took in ₹60 on Friday, ₹360 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
31. 31.Zoya’s stall took in ₹210 on Friday, ₹210 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: cash from selling plants? (a) expense (b) income
33. 33.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
34. 34.📒 Income or expense: a card order paid? (a) income (b) expense
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) buying lemons
36. 36.📒 Income or expense: buying paper cups? (a) income (b) expense
37. 37.Gurpreet’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
38. 38.Nisha’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (posters)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
39. 39.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) a card order paid
40. 40.True or false: “money from sales” is income (money in). (a) True (b) False

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