Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 3 · 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: buying lemons? (a) expense (b) income
2. 2.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
3. 3.Farhan’s record for the day:
   Income: ₹560 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹170 (card paper)
   Expense: ₹170 (lemons)
   What is the profit (in ₹)?
4. 4.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
5. 5.📒 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
6. 6.📒 Income or expense: tutoring fees received? (a) expense (b) income
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying lemons (d) payment for a cake order
8. 8.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
9. 9.Riya’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹50 (ribbon)
   Expense: ₹200 (stall fee)
   What is the profit (in ₹)?
10. 10.Farhan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
11. 11.Ishaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
12. 12.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
13. 13.📒 Income or expense: money from sales? (a) expense (b) income
14. 14.True or false: “bus fare to the market” is income (money in). (a) False (b) True
15. 15.📒 Income or expense: paying the stall fee? (a) income (b) expense
16. 16.📒 Income or expense: cash from selling plants? (a) income (b) expense
17. 17.📒 Income or expense: a card order paid? (a) income (b) expense
18. 18.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
19. 19.Aarav’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹70 (transport)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
20. 20.Lakshmi’s stall took in ₹50 on Friday, ₹220 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) paying the stall fee (d) tutoring fees received
22. 22.Farhan’s income was ₹360 and the profit was ₹100. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
23. 23.Meera’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: bus fare to the market? (a) income (b) expense
25. 25.Aarav’s stall took in ₹110 on Friday, ₹280 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
26. 26.Saanvi’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: printing posters? (a) income (b) expense
28. 28.📒 Income or expense: payment for a cake order? (a) expense (b) income
29. 29.True or false: “a card order paid” is an expense (money out). (a) False (b) True
30. 30.True or false: “buying lemons” is an expense (money out). (a) True (b) False
31. 31.Aarav’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) tutoring fees received (d) money from sales
33. 33.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) printing posters (d) cash from selling plants
34. 34.Arjun’s income was ₹260 and the profit was ₹40. One expense was ₹80 (transport). How much was the other expense, for lemons (in ₹)?
35. 35.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
36. 36.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
37. 37.Rohan’s stall took in ₹390 on Friday, ₹210 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
38. 38.Tara’s income was ₹110 and the profit was ₹70. One expense was ₹10 (sugar). How much was the other expense, for transport (in ₹)?
39. 39.Zoya’s stall took in ₹90 on Friday, ₹200 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
40. 40.Ishaan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?

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