Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 215 · 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.Arjun’s record for the day:
   Income: ₹470 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹90 (transport)
   What is the profit (in ₹)?
2. 2.True or false: “tutoring fees received” is income (money in). (a) False (b) True
3. 3.Kabir’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹50 (sugar)
   Expense: ₹150 (ribbon)
   What is the profit (in ₹)?
4. 4.True or false: “buying paper cups” is income (money in). (a) False (b) True
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
6. 6.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
7. 7.📒 Income or expense: bus fare to the market? (a) income (b) expense
8. 8.Kabir’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹40 (card paper)
   Expense: ₹150 (ribbon)
   What is the profit (in ₹)?
9. 9.Dev’s stall took in ₹100 on Friday, ₹120 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) payment for a cake order (d) money from sales
11. 11.📒 Income or expense: payment for a cake order? (a) expense (b) income
12. 12.Joseph’s stall took in ₹230 on Friday, ₹390 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
13. 13.Meera’s stall took in ₹120 on Friday, ₹70 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.Saanvi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
16. 16.Gurpreet’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
17. 17.Farhan’s income was ₹350 and the profit was ₹30. One expense was ₹180 (transport). How much was the other expense, for sugar (in ₹)?
18. 18.Rohan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
19. 19.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
20. 20.True or false: “printing posters” is an expense (money out). (a) False (b) True
21. 21.📒 Income or expense: buying paper cups? (a) income (b) expense
22. 22.Arjun’s stall took in ₹160 on Friday, ₹110 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
23. 23.Riya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
24. 24.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
25. 25.Farhan’s stall took in ₹270 on Friday, ₹130 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
26. 26.Ananya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
27. 27.Arjun’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
28. 28.True or false: “a card order paid” is an expense (money out). (a) False (b) True
29. 29.Rohan’s income was ₹490 and the profit was ₹200. One expense was ₹150 (paper cups). How much was the other expense, for transport (in ₹)?
30. 30.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
31. 31.True or false: “buying lemons” is income (money in). (a) True (b) False
32. 32.📒 Income or expense: buying lemons? (a) expense (b) income
33. 33.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) tutoring fees received (d) paying the stall fee
34. 34.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
35. 35.Vihaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
36. 36.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
37. 37.True or false: “printing posters” is income (money in). (a) True (b) False
38. 38.📒 Income or expense: money from sales? (a) income (b) expense
39. 39.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
40. 40.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) cash from selling plants (d) tutoring fees received

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