Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 298 · 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.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) a card order paid (d) printing posters
3. 3.Saanvi’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹30 (card paper)
   Expense: ₹310 (sugar)
   How much is the loss (in ₹)?
4. 4.Arjun’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹190 (lemons)
   Expense: ₹90 (stall fee)
   What is the profit (in ₹)?
5. 5.Meera’s stall took in ₹320 on Friday, ₹60 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
6. 6.Farhan’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹70 (stall fee)
   Expense: ₹310 (transport)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.Farhan’s income was ₹310 and the profit was ₹220. One expense was ₹80 (lemons). How much was the other expense, for stall fee (in ₹)?
9. 9.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
10. 10.Meera’s stall took in ₹250 on Friday, ₹250 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “printing posters” is income (money in). (a) False (b) True
12. 12.📒 Income or expense: tutoring fees received? (a) income (b) expense
13. 13.Ananya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
14. 14.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
15. 15.Joseph’s stall took in ₹130 on Friday, ₹250 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
16. 16.📒 Income or expense: buying paper cups? (a) expense (b) income
17. 17.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) bus fare to the market (d) printing posters
18. 18.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
19. 19.Kabir’s income was ₹500 and the profit was ₹360. One expense was ₹50 (lemons). How much was the other expense, for posters (in ₹)?
20. 20.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) money from sales (d) buying paper cups
21. 21.Arjun’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: cash from selling plants? (a) expense (b) income
23. 23.True or false: “buying lemons” is income (money in). (a) False (b) True
24. 24.Saanvi’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: paying the stall fee? (a) income (b) expense
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) bus fare to the market (d) buying paper cups
27. 27.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
28. 28.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
29. 29.Nisha’s stall took in ₹50 on Friday, ₹330 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) money from sales (d) paying the stall fee
31. 31.Ananya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
32. 32.Arjun’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
33. 33.Aarav’s income was ₹160 and the profit was ₹60. One expense was ₹80 (card paper). How much was the other expense, for posters (in ₹)?
34. 34.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
35. 35.Tara’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
36. 36.True or false: “buying lemons” is an expense (money out). (a) False (b) True
37. 37.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) a card order paid (d) paying the stall fee
38. 38.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
39. 39.Joseph’s income was ₹190 and the profit was ₹20. One expense was ₹30 (card paper). How much was the other expense, for transport (in ₹)?
40. 40.Vihaan’s stall took in ₹170 on Friday, ₹350 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?

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