Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 205 · 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.Farhan’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹170 (posters)
   Expense: ₹70 (lemons)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) paying the stall fee (d) tutoring fees received
3. 3.Lakshmi’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹300 (ribbon)
   Expense: ₹40 (transport)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: bus fare to the market? (a) income (b) expense
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
6. 6.True or false: “money from sales” is income (money in). (a) False (b) True
7. 7.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
8. 8.Arjun’s stall took in ₹290 on Friday, ₹350 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
10. 10.Ishaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: paying the stall fee? (a) income (b) expense
12. 12.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying paper cups (d) buying lemons
13. 13.True or false: “money from sales” is an expense (money out). (a) False (b) True
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
15. 15.Kavya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
16. 16.Vihaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹90 (sugar)
    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: “tutoring fees received” is an expense (money out). (a) True (b) False
19. 19.Kabir’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: payment for a cake order? (a) expense (b) income
21. 21.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
22. 22.True or false: “cash from selling plants” is income (money in). (a) True (b) False
23. 23.Vihaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹200 (card paper)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
24. 24.Ananya’s stall took in ₹340 on Friday, ₹340 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
25. 25.Aarav’s income was ₹340 and the profit was ₹10. One expense was ₹240 (transport). How much was the other expense, for paper cups (in ₹)?
26. 26.📒 Income or expense: buying paper cups? (a) income (b) expense
27. 27.Kavya’s stall took in ₹220 on Friday, ₹400 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
28. 28.Rohan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) tutoring fees received
30. 30.Joseph’s income was ₹340 and the profit was ₹230. One expense was ₹60 (ribbon). How much was the other expense, for paper cups (in ₹)?
31. 31.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) money from sales
32. 32.📒 Income or expense: a card order paid? (a) expense (b) income
33. 33.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
34. 34.Riya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) a card order paid (d) money from sales
36. 36.Ananya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
37. 37.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
38. 38.Arjun’s income was ₹220 and the profit was ₹10. One expense was ₹160 (lemons). How much was the other expense, for stall fee (in ₹)?
39. 39.Meera’s stall took in ₹380 on Friday, ₹170 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “paying the stall fee” is income (money in). (a) True (b) False

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