Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 183 · 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.Nisha’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹80 (stall fee)
   Expense: ₹150 (ribbon)
   How much is the loss (in ₹)?
2. 2.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) bus fare to the market
3. 3.Ananya’s income was ₹500 and the profit was ₹420. One expense was ₹70 (ribbon). How much was the other expense, for posters (in ₹)?
4. 4.Gurpreet’s stall took in ₹100 on Friday, ₹200 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
5. 5.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
6. 6.Meera’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹110 (posters)
   Expense: ₹100 (stall fee)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.📒 Income or expense: paying the stall fee? (a) expense (b) income
9. 9.Aarav’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹90 (ribbon)
   Expense: ₹20 (sugar)
   How much is the loss (in ₹)?
10. 10.Zoya’s stall took in ₹190 on Friday, ₹80 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
11. 11.Lakshmi’s stall took in ₹220 on Friday, ₹70 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “bus fare to the market” is income (money in). (a) False (b) True
13. 13.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) money from sales
14. 14.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) cash from selling plants
15. 15.Farhan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
16. 16.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
17. 17.Ishaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
18. 18.Aarav’s stall took in ₹390 on Friday, ₹120 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
19. 19.Kabir’s income was ₹210 and the profit was ₹40. One expense was ₹140 (transport). How much was the other expense, for posters (in ₹)?
20. 20.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
21. 21.Gurpreet’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
22. 22.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
23. 23.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
24. 24.True or false: “paying the stall fee” is income (money in). (a) True (b) False
25. 25.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
26. 26.True or false: “a card order paid” is income (money in). (a) False (b) True
27. 27.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) buying lemons
28. 28.Meera’s stall took in ₹310 on Friday, ₹50 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: tutoring fees received? (a) income (b) expense
30. 30.Vihaan’s stall took in ₹230 on Friday, ₹90 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
31. 31.Kabir’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹280 (stall fee)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: printing posters? (a) expense (b) income
33. 33.Rohan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹180 (card paper)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
34. 34.True or false: “printing posters” is an expense (money out). (a) True (b) False
35. 35.Ishaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹140 (transport)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
36. 36.True or false: “money from sales” is income (money in). (a) False (b) True
37. 37.📒 Income or expense: payment for a cake order? (a) income (b) expense
38. 38.📒 Income or expense: a card order paid? (a) income (b) expense
39. 39.Ananya’s stall took in ₹360 on Friday, ₹100 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
40. 40.Tara’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?

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