Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 19 · 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.Saanvi’s income was ₹250 and the profit was ₹30. One expense was ₹70 (ribbon). How much was the other expense, for transport (in ₹)?
2. 2.Gurpreet’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹120 (posters)
   Expense: ₹40 (stall fee)
   How much is the loss (in ₹)?
3. 3.Farhan’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹150 (stall fee)
   Expense: ₹60 (card paper)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: buying lemons? (a) income (b) expense
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) tutoring fees received (d) bus fare to the market
6. 6.Rohan’s income was ₹160 and the profit was ₹20. One expense was ₹130 (transport). How much was the other expense, for lemons (in ₹)?
7. 7.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) buying lemons
8. 8.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
9. 9.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
10. 10.Riya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
13. 13.Dev’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: money from sales? (a) expense (b) income
15. 15.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
16. 16.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
17. 17.Diya’s stall took in ₹230 on Friday, ₹260 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) cash from selling plants (d) bus fare to the market
19. 19.True or false: “bus fare to the market” is income (money in). (a) False (b) True
20. 20.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
21. 21.Diya’s income was ₹430 and the profit was ₹410. One expense was ₹10 (paper cups). How much was the other expense, for lemons (in ₹)?
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
23. 23.True or false: “a card order paid” is an expense (money out). (a) True (b) False
24. 24.📒 Income or expense: cash from selling plants? (a) expense (b) income
25. 25.Vihaan’s stall took in ₹220 on Friday, ₹160 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
26. 26.Saanvi’s stall took in ₹310 on Friday, ₹280 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
27. 27.Kabir’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹250 (lemons)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
28. 28.Tara’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
29. 29.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
30. 30.Ananya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
31. 31.Zoya’s stall took in ₹290 on Friday, ₹400 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) payment for a cake order (d) buying paper cups
33. 33.Zoya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
34. 34.Dev’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
35. 35.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
36. 36.True or false: “money from sales” is an expense (money out). (a) True (b) False
37. 37.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) payment for a cake order (d) bus fare to the market
38. 38.Gurpreet’s income was ₹100 and the profit was ₹80. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
39. 39.Dev’s income was ₹420 and the profit was ₹70. One expense was ₹90 (posters). How much was the other expense, for lemons (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) income (b) expense

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