Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 29 · 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.Diya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹20 (ribbon)
   Expense: ₹90 (paper cups)
   How much is the loss (in ₹)?
2. 2.Saanvi’s income was ₹290 and the profit was ₹270. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
3. 3.Kavya’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹190 (lemons)
   Expense: ₹120 (paper cups)
   What is the profit (in ₹)?
4. 4.Rohan’s income was ₹380 and the profit was ₹270. One expense was ₹60 (posters). How much was the other expense, for lemons (in ₹)?
5. 5.Gurpreet’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹300 (transport)
   Expense: ₹90 (lemons)
   How much is the loss (in ₹)?
6. 6.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) printing posters
7. 7.Dev’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹130 (sugar)
   Expense: ₹220 (posters)
   How much is the loss (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
9. 9.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
10. 10.📒 Income or expense: paying the stall fee? (a) expense (b) income
11. 11.True or false: “payment for a cake order” is income (money in). (a) False (b) True
12. 12.Nisha’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
13. 13.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
14. 14.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
15. 15.📒 Income or expense: bus fare to the market? (a) income (b) expense
16. 16.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying lemons (d) cash from selling plants
17. 17.Ananya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹200 (transport)
    How much is the loss (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
19. 19.Kabir’s income was ₹270 and the profit was ₹120. One expense was ₹40 (lemons). How much was the other expense, for stall fee (in ₹)?
20. 20.📒 Income or expense: tutoring fees received? (a) expense (b) income
21. 21.Meera’s stall took in ₹250 on Friday, ₹400 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
22. 22.Riya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: payment for a cake order? (a) income (b) expense
24. 24.Riya’s income was ₹320 and the profit was ₹230. One expense was ₹70 (transport). How much was the other expense, for lemons (in ₹)?
25. 25.📒 Income or expense: money from sales? (a) income (b) expense
26. 26.Lakshmi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
27. 27.Tara’s income was ₹290 and the profit was ₹60. One expense was ₹200 (transport). How much was the other expense, for stall fee (in ₹)?
28. 28.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
29. 29.Lakshmi’s stall took in ₹80 on Friday, ₹260 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
30. 30.Tara’s stall took in ₹320 on Friday, ₹50 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: cash from selling plants? (a) income (b) expense
32. 32.Joseph’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: buying lemons? (a) expense (b) income
34. 34.Gurpreet’s income was ₹190 and the profit was ₹10. One expense was ₹100 (ribbon). How much was the other expense, for paper cups (in ₹)?
35. 35.Tara’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹210 (lemons)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
36. 36.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) payment for a cake order
37. 37.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
38. 38.Aarav’s income was ₹180 and the profit was ₹100. One expense was ₹20 (ribbon). How much was the other expense, for sugar (in ₹)?
39. 39.True or false: “printing posters” is income (money in). (a) False (b) True
40. 40.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (transport)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?

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