Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 24 · 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.Vihaan’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹150 (sugar)
   Expense: ₹190 (ribbon)
   What is the profit (in ₹)?
2. 2.Lakshmi’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹10 (card paper)
   Expense: ₹130 (lemons)
   How much is the loss (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
4. 4.Aarav’s income was ₹280 and the profit was ₹260. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
5. 5.Zoya’s stall took in ₹210 on Friday, ₹380 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
6. 6.Saanvi’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹100 (card paper)
   Expense: ₹40 (sugar)
   How much is the loss (in ₹)?
7. 7.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
8. 8.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
11. 11.Meera’s income was ₹190 and the profit was ₹70. One expense was ₹110 (paper cups). How much was the other expense, for transport (in ₹)?
12. 12.Ananya’s stall took in ₹60 on Friday, ₹190 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
13. 13.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
14. 14.Kabir’s income was ₹460 and the profit was ₹440. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
15. 15.Ishaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
16. 16.Farhan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
17. 17.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying lemons (d) tutoring fees received
18. 18.Ishaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: money from sales? (a) expense (b) income
20. 20.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) a card order paid (d) bus fare to the market
21. 21.True or false: “printing posters” is income (money in). (a) True (b) False
22. 22.Ananya’s stall took in ₹140 on Friday, ₹220 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
23. 23.Lakshmi’s income was ₹360 and the profit was ₹280. One expense was ₹70 (transport). How much was the other expense, for stall fee (in ₹)?
24. 24.📒 Income or expense: a card order paid? (a) income (b) expense
25. 25.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
26. 26.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying paper cups (d) payment for a cake order
27. 27.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) bus fare to the market
28. 28.Kabir’s stall took in ₹250 on Friday, ₹220 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
29. 29.Dev’s income was ₹470 and the profit was ₹330. One expense was ₹70 (posters). How much was the other expense, for lemons (in ₹)?
30. 30.Nisha’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
31. 31.Kabir’s income was ₹440 and the profit was ₹190. One expense was ₹60 (stall fee). How much was the other expense, for transport (in ₹)?
32. 32.Farhan’s stall took in ₹270 on Friday, ₹170 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “paying the stall fee” is income (money in). (a) False (b) True
34. 34.Ananya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
35. 35.Joseph’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: payment for a cake order? (a) expense (b) income
37. 37.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) paying the stall fee (d) buying lemons
38. 38.📒 Income or expense: printing posters? (a) expense (b) income
39. 39.True or false: “payment for a cake order” is income (money in). (a) False (b) True
40. 40.True or false: “buying lemons” is income (money in). (a) False (b) True

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