Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 192 · 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.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
3. 3.True or false: “a card order paid” is an expense (money out). (a) True (b) False
4. 4.Arjun’s income was ₹350 and the profit was ₹90. One expense was ₹150 (card paper). How much was the other expense, for paper cups (in ₹)?
5. 5.Lakshmi’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹40 (transport)
   Expense: ₹110 (paper cups)
   How much is the loss (in ₹)?
6. 6.Rohan’s income was ₹120 and the profit was ₹80. One expense was ₹20 (transport). How much was the other expense, for stall fee (in ₹)?
7. 7.True or false: “buying lemons” is an expense (money out). (a) False (b) True
8. 8.Nisha’s income was ₹410 and the profit was ₹370. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) cash from selling plants (d) buying lemons
10. 10.Saanvi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
11. 11.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying paper cups (d) a card order paid
12. 12.True or false: “payment for a cake order” is income (money in). (a) True (b) False
13. 13.Kabir’s income was ₹370 and the profit was ₹220. One expense was ₹90 (sugar). How much was the other expense, for card paper (in ₹)?
14. 14.Lakshmi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹190 (lemons)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
15. 15.Kavya’s income was ₹490 and the profit was ₹110. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
16. 16.Dev’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
17. 17.Arjun’s income was ₹370 and the profit was ₹230. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
18. 18.Gurpreet’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: tutoring fees received? (a) expense (b) income
20. 20.📒 Income or expense: bus fare to the market? (a) expense (b) income
21. 21.Arjun’s stall took in ₹200 on Friday, ₹110 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: paying the stall fee? (a) expense (b) income
23. 23.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) money from sales (d) paying the stall fee
24. 24.📒 Income or expense: cash from selling plants? (a) expense (b) income
25. 25.Lakshmi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹190 (sugar)
    How much is the loss (in ₹)?
26. 26.Vihaan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹250 (sugar)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
27. 27.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
28. 28.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) printing posters (d) tutoring fees received
29. 29.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
30. 30.Meera’s income was ₹490 and the profit was ₹320. One expense was ₹50 (posters). How much was the other expense, for sugar (in ₹)?
31. 31.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) payment for a cake order
32. 32.Meera’s income was ₹100 and the profit was ₹10. One expense was ₹60 (transport). How much was the other expense, for paper cups (in ₹)?
33. 33.📒 Income or expense: buying lemons? (a) expense (b) income
34. 34.Saanvi’s stall took in ₹220 on Friday, ₹340 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: payment for a cake order? (a) income (b) expense
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
37. 37.Kabir’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
38. 38.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
39. 39.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
40. 40.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like

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