Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 190 · 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 record for the day:
   Income: ₹240 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹120 (sugar)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
2. 2.Ananya’s stall took in ₹250 on Friday, ₹300 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
3. 3.Aarav’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹150 (stall fee)
   What is the profit (in ₹)?
4. 4.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) money from sales (d) buying lemons
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) printing posters (d) money from sales
7. 7.True or false: “money from sales” is income (money in). (a) True (b) False
8. 8.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
9. 9.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
10. 10.Aarav’s stall took in ₹120 on Friday, ₹300 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
11. 11.Riya’s stall took in ₹260 on Friday, ₹260 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
12. 12.Gurpreet’s income was ₹250 and the profit was ₹170. One expense was ₹40 (posters). How much was the other expense, for sugar (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) income (b) expense
14. 14.Meera’s income was ₹100 and the profit was ₹30. One expense was ₹50 (lemons). How much was the other expense, for ribbon (in ₹)?
15. 15.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
16. 16.Joseph’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
17. 17.True or false: “tutoring fees received” is income (money in). (a) False (b) True
18. 18.True or false: “payment for a cake order” is income (money in). (a) False (b) True
19. 19.📒 Income or expense: buying paper cups? (a) expense (b) income
20. 20.📒 Income or expense: bus fare to the market? (a) income (b) expense
21. 21.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) buying lemons (d) printing posters
22. 22.Meera’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: buying lemons? (a) expense (b) income
24. 24.Lakshmi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹190 (lemons)
    How much is the loss (in ₹)?
25. 25.Ananya’s stall took in ₹230 on Friday, ₹390 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
26. 26.Zoya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
27. 27.Saanvi’s stall took in ₹290 on Friday, ₹140 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
29. 29.Kabir’s stall took in ₹280 on Friday, ₹240 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
31. 31.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) paying the stall fee (d) a card order paid
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
34. 34.Aarav’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹180 (transport)
    How much is the loss (in ₹)?
35. 35.True or false: “paying the stall fee” is income (money in). (a) True (b) False
36. 36.📒 Income or expense: paying the stall fee? (a) income (b) expense
37. 37.📒 Income or expense: a card order paid? (a) expense (b) income
38. 38.Saanvi’s stall took in ₹210 on Friday, ₹300 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
39. 39.Saanvi’s stall took in ₹350 on Friday, ₹260 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
40. 40.Saanvi’s income was ₹240 and the profit was ₹20. One expense was ₹200 (transport). How much was the other expense, for card paper (in ₹)?

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