Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 230 · 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.Aarav’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹120 (posters)
   How much is the loss (in ₹)?
2. 2.Farhan’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹160 (posters)
   What is the profit (in ₹)?
3. 3.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
4. 4.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) buying lemons
5. 5.True or false: “cash from selling plants” is income (money in). (a) True (b) False
6. 6.📒 Income or expense: buying paper cups? (a) expense (b) income
7. 7.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
8. 8.Nisha’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹70 (sugar)
   Expense: ₹10 (stall fee)
   How much is the loss (in ₹)?
9. 9.Ishaan’s stall took in ₹350 on Friday, ₹310 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) cash from selling plants (d) paying the stall fee
11. 11.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) money from sales (d) buying lemons
12. 12.Kabir’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹280 (paper cups)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
14. 14.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
15. 15.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
16. 16.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) tutoring fees received (d) bus fare to the market
17. 17.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
18. 18.📒 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
19. 19.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
20. 20.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
21. 21.Dev’s income was ₹280 and the profit was ₹220. One expense was ₹40 (transport). How much was the other expense, for sugar (in ₹)?
22. 22.True or false: “a card order paid” is an expense (money out). (a) True (b) False
23. 23.Ishaan’s stall took in ₹170 on Friday, ₹400 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
24. 24.Diya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹260 (stall fee)
    How much is the loss (in ₹)?
25. 25.Kavya’s income was ₹280 and the profit was ₹180. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
26. 26.📒 Income or expense: cash from selling plants? (a) expense (b) income
27. 27.Aarav’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?
28. 28.True or false: “printing posters” is income (money in). (a) True (b) False
29. 29.Saanvi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹10 (transport)
    Expense: ₹250 (sugar)
    How much is the loss (in ₹)?
30. 30.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) bus fare to the market (d) cash from selling plants
32. 32.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) cash from selling plants
33. 33.Aarav’s stall took in ₹160 on Friday, ₹150 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
34. 34.Aarav’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
35. 35.True or false: “bus fare to the market” is income (money in). (a) True (b) False
36. 36.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) payment for a cake order
37. 37.True or false: “money from sales” is an expense (money out). (a) False (b) True
38. 38.True or false: “paying the stall fee” is income (money in). (a) True (b) False
39. 39.Lakshmi’s stall took in ₹120 on Friday, ₹90 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
40. 40.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (transport)
    Expense: ₹180 (lemons)
    How much is the loss (in ₹)?

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