Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 260 · 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: bus fare to the market? (a) income (b) expense
2. 2.Arjun’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹120 (ribbon)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
3. 3.📒 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
4. 4.📒 Income or expense: buying lemons? (a) expense (b) income
5. 5.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) paying the stall fee (d) bus fare to the market
6. 6.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) money from sales
7. 7.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) buying lemons
8. 8.Rohan’s stall took in ₹350 on Friday, ₹90 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
9. 9.Kabir’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹180 (stall fee)
   Expense: ₹50 (ribbon)
   What is the profit (in ₹)?
10. 10.Riya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) printing posters
12. 12.Saanvi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
14. 14.Kabir’s stall took in ₹370 on Friday, ₹120 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
15. 15.Riya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹50 (transport)
    Expense: ₹220 (ribbon)
    How much is the loss (in ₹)?
16. 16.Zoya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
17. 17.Gurpreet’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: money from sales? (a) expense (b) income
19. 19.Arjun’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) buying paper cups
21. 21.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
22. 22.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
23. 23.Meera’s income was ₹140 and the profit was ₹50. One expense was ₹50 (transport). How much was the other expense, for lemons (in ₹)?
24. 24.Diya’s income was ₹130 and the profit was ₹80. One expense was ₹30 (posters). How much was the other expense, for transport (in ₹)?
25. 25.Farhan’s income was ₹300 and the profit was ₹260. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
26. 26.Aarav’s income was ₹140 and the profit was ₹10. One expense was ₹50 (paper cups). How much was the other expense, for ribbon (in ₹)?
27. 27.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: a card order paid? (a) income (b) expense
29. 29.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
30. 30.Diya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
31. 31.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
32. 32.Ananya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
33. 33.Diya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
34. 34.Farhan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹270 (stall fee)
    How much is the loss (in ₹)?
35. 35.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
36. 36.📒 Income or expense: paying the stall fee? (a) income (b) expense
37. 37.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) tutoring fees received
38. 38.Nisha’s stall took in ₹60 on Friday, ₹120 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
39. 39.Saanvi’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
40. 40.True or false: “payment for a cake order” is income (money in). (a) False (b) True

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