Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 285 · 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.Arjun’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹100 (transport)
   Expense: ₹170 (card paper)
   What is the profit (in ₹)?
2. 2.Kabir’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹40 (paper cups)
   Expense: ₹320 (lemons)
   How much is the loss (in ₹)?
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) cash from selling plants (d) a card order paid
4. 4.📒 Income or expense: buying lemons? (a) expense (b) income
5. 5.Ishaan’s stall took in ₹360 on Friday, ₹140 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.📒 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
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) tutoring fees received (d) buying lemons
9. 9.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
10. 10.Farhan’s income was ₹100 and the profit was ₹30. One expense was ₹50 (ribbon). How much was the other expense, for transport (in ₹)?
11. 11.True or false: “a card order paid” is an expense (money out). (a) True (b) False
12. 12.Joseph’s stall took in ₹120 on Friday, ₹320 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “buying lemons” is income (money in). (a) True (b) False
14. 14.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
15. 15.Vihaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: tutoring fees received? (a) income (b) expense
17. 17.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
18. 18.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
19. 19.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
20. 20.True or false: “tutoring fees received” is income (money in). (a) False (b) True
21. 21.Saanvi’s income was ₹340 and the profit was ₹100. One expense was ₹40 (ribbon). How much was the other expense, for stall fee (in ₹)?
22. 22.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) payment for a cake order (d) a card order paid
23. 23.Saanvi’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
24. 24.True or false: “printing posters” is income (money in). (a) False (b) True
25. 25.Gurpreet’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹100 (posters)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: payment for a cake order? (a) expense (b) income
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.📒 Income or expense: printing posters? (a) income (b) expense
29. 29.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
30. 30.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
31. 31.📒 Income or expense: buying paper cups? (a) income (b) expense
32. 32.Ishaan’s income was ₹150 and the profit was ₹20. One expense was ₹80 (ribbon). How much was the other expense, for paper cups (in ₹)?
33. 33.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) buying lemons (d) payment for a cake order
34. 34.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
35. 35.True or false: “printing posters” is an expense (money out). (a) False (b) True
36. 36.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
37. 37.Arjun’s stall took in ₹120 on Friday, ₹210 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
38. 38.Kabir’s income was ₹200 and the profit was ₹90. One expense was ₹100 (sugar). How much was the other expense, for posters (in ₹)?
39. 39.Gurpreet’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹160 (transport)
    How much is the loss (in ₹)?
40. 40.Aarav’s stall took in ₹260 on Friday, ₹270 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?

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