Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 200 · 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.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
2. 2.Aarav’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹30 (transport)
   Expense: ₹150 (paper cups)
   How much is the loss (in ₹)?
3. 3.Ishaan’s income was ₹330 and the profit was ₹280. One expense was ₹30 (sugar). How much was the other expense, for ribbon (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
5. 5.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
7. 7.Lakshmi’s income was ₹160 and the profit was ₹40. One expense was ₹40 (transport). How much was the other expense, for sugar (in ₹)?
8. 8.Kabir’s stall took in ₹110 on Friday, ₹310 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
9. 9.Rohan’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹140 (stall fee)
   Expense: ₹90 (paper cups)
   What is the profit (in ₹)?
10. 10.True or false: “a card order paid” is an expense (money out). (a) False (b) True
11. 11.Ananya’s income was ₹260 and the profit was ₹30. One expense was ₹20 (lemons). How much was the other expense, for ribbon (in ₹)?
12. 12.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹190 (sugar)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
13. 13.Arjun’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
14. 14.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) cash from selling plants (d) tutoring fees received
15. 15.Saanvi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
16. 16.Rohan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹10 (posters)
    Expense: ₹300 (card paper)
    How much is the loss (in ₹)?
17. 17.Kabir’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
18. 18.True or false: “bus fare to the market” is income (money in). (a) True (b) False
19. 19.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
20. 20.Kavya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹160 (card paper)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
21. 21.True or false: “money from sales” is income (money in). (a) True (b) False
22. 22.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) buying lemons (d) bus fare to the market
23. 23.📒 Income or expense: cash from selling plants? (a) income (b) expense
24. 24.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.📒 Income or expense: money from sales? (a) expense (b) income
27. 27.📒 Income or expense: a card order paid? (a) income (b) expense
28. 28.Ananya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
29. 29.Tara’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
30. 30.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) payment for a cake order
31. 31.Aarav’s income was ₹470 and the profit was ₹30. One expense was ₹170 (lemons). How much was the other expense, for card paper (in ₹)?
32. 32.Dev’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹260 (posters)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
33. 33.Aarav’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
34. 34.Gurpreet’s income was ₹150 and the profit was ₹120. One expense was ₹20 (lemons). How much was the other expense, for paper cups (in ₹)?
35. 35.True or false: “printing posters” is an expense (money out). (a) False (b) True
36. 36.True or false: “tutoring fees received” is income (money in). (a) True (b) False
37. 37.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) cash from selling plants
38. 38.True or false: “payment for a cake order” is income (money in). (a) True (b) False
39. 39.Gurpreet’s stall took in ₹180 on Friday, ₹380 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
40. 40.Tara’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?

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