Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 232 · 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: ₹90 (sales)
   Expense: ₹110 (paper cups)
   Expense: ₹40 (card paper)
   How much is the loss (in ₹)?
2. 2.True or false: “money from sales” is an expense (money out). (a) False (b) True
3. 3.Zoya’s income was ₹430 and the profit was ₹410. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
4. 4.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
5. 5.Meera’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹20 (stall fee)
   Expense: ₹250 (sugar)
   How much is the loss (in ₹)?
6. 6.True or false: “bus fare to the market” is income (money in). (a) False (b) True
7. 7.True or false: “buying lemons” is income (money in). (a) True (b) False
8. 8.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) tutoring fees received (d) printing posters
9. 9.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) money from sales
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
11. 11.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) bus fare to the market (d) buying paper cups
12. 12.📒 Income or expense: cash from selling plants? (a) expense (b) income
13. 13.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
14. 14.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) bus fare to the market
15. 15.True or false: “paying the stall fee” is income (money in). (a) False (b) True
16. 16.True or false: “printing posters” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: payment for a cake order? (a) income (b) expense
18. 18.Tara’s stall took in ₹310 on Friday, ₹140 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
20. 20.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
21. 21.Gurpreet’s income was ₹410 and the profit was ₹290. One expense was ₹40 (transport). How much was the other expense, for sugar (in ₹)?
22. 22.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
23. 23.Ishaan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: money from sales? (a) expense (b) income
25. 25.Zoya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: paying the stall fee? (a) expense (b) income
27. 27.Kabir’s stall took in ₹70 on Friday, ₹340 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “buying lemons” is an expense (money out). (a) False (b) True
29. 29.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
30. 30.Zoya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
31. 31.Ishaan’s income was ₹210 and the profit was ₹110. One expense was ₹90 (sugar). How much was the other expense, for posters (in ₹)?
32. 32.Diya’s income was ₹280 and the profit was ₹40. One expense was ₹130 (card paper). How much was the other expense, for sugar (in ₹)?
33. 33.Rohan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
34. 34.Aarav’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹230 (paper cups)
    How much is the loss (in ₹)?
35. 35.Arjun’s income was ₹100 and the profit was ₹60. One expense was ₹10 (sugar). How much was the other expense, for transport (in ₹)?
36. 36.Aarav’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: bus fare to the market? (a) expense (b) income
38. 38.Diya’s stall took in ₹100 on Friday, ₹80 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
39. 39.Joseph’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
40. 40.Aarav’s stall took in ₹350 on Friday, ₹100 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?

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