Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 241 · 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.📒 Income or expense: money from sales? (a) expense (b) income
2. 2.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
3. 3.Lakshmi’s stall took in ₹170 on Friday, ₹190 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
4. 4.Saanvi’s income was ₹170 and the profit was ₹60. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) payment for a cake order
6. 6.Arjun’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹320 (sugar)
   How much is the loss (in ₹)?
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) bus fare to the market
8. 8.True or false: “tutoring fees received” is income (money in). (a) False (b) True
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.Arjun’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (transport)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
11. 11.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
12. 12.Kavya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) a card order paid (d) money from sales
14. 14.Joseph’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹300 (card paper)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
15. 15.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
16. 16.Diya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
17. 17.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
18. 18.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
19. 19.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
20. 20.Aarav’s stall took in ₹300 on Friday, ₹290 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
21. 21.Ishaan’s stall took in ₹60 on Friday, ₹300 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
22. 22.Riya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
23. 23.Ananya’s stall took in ₹60 on Friday, ₹120 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
24. 24.Lakshmi’s income was ₹470 and the profit was ₹60. One expense was ₹120 (lemons). How much was the other expense, for sugar (in ₹)?
25. 25.Arjun’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹250 (paper cups)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
26. 26.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
27. 27.📒 Income or expense: a card order paid? (a) expense (b) income
28. 28.Vihaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹340 (sugar)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
29. 29.Dev’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
30. 30.Dev’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
31. 31.Farhan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹180 (sugar)
    How much is the loss (in ₹)?
32. 32.True or false: “a card order paid” is an expense (money out). (a) False (b) True
33. 33.Riya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
34. 34.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
35. 35.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
36. 36.Ananya’s income was ₹410 and the profit was ₹340. One expense was ₹30 (card paper). How much was the other expense, for sugar (in ₹)?
37. 37.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
38. 38.Zoya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: bus fare to the market? (a) expense (b) income
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) paying the stall fee

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