Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 323 · 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.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
2. 2.📒 Income or expense: buying paper cups? (a) income (b) expense
3. 3.Vihaan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹30 (stall fee)
   Expense: ₹120 (card paper)
   What is the profit (in ₹)?
4. 4.Gurpreet’s stall took in ₹110 on Friday, ₹160 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying lemons (d) paying the stall fee
6. 6.Ananya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹10 (sugar)
   Expense: ₹130 (posters)
   How much is the loss (in ₹)?
7. 7.Ananya’s income was ₹230 and the profit was ₹180. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
8. 8.Arjun’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹510 (evening sales)
   Expense: ₹200 (paper cups)
   Expense: ₹140 (lemons)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: a card order paid? (a) expense (b) income
10. 10.Meera’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (posters)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
11. 11.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹10 (posters)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: bus fare to the market? (a) expense (b) income
13. 13.True or false: “a card order paid” is income (money in). (a) True (b) False
14. 14.Joseph’s income was ₹270 and the profit was ₹190. One expense was ₹50 (stall fee). How much was the other expense, for ribbon (in ₹)?
15. 15.Tara’s stall took in ₹70 on Friday, ₹330 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
16. 16.Zoya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹150 (card paper)
    How much is the loss (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
18. 18.Vihaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹10 (transport)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
19. 19.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) printing posters (d) payment for a cake order
20. 20.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
21. 21.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying lemons (d) printing posters
22. 22.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
23. 23.Arjun’s income was ₹230 and the profit was ₹30. One expense was ₹80 (paper cups). How much was the other expense, for transport (in ₹)?
24. 24.Riya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹270 (sugar)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
25. 25.Lakshmi’s stall took in ₹380 on Friday, ₹150 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
27. 27.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying paper cups (d) payment for a cake order
28. 28.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
29. 29.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (posters)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
30. 30.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) money from sales (d) cash from selling plants
31. 31.Ananya’s income was ₹250 and the profit was ₹160. One expense was ₹20 (transport). How much was the other expense, for sugar (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) cash from selling plants
33. 33.Kabir’s income was ₹490 and the profit was ₹100. One expense was ₹260 (ribbon). How much was the other expense, for transport (in ₹)?
34. 34.Rohan’s stall took in ₹320 on Friday, ₹160 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
35. 35.Joseph’s income was ₹120 and the profit was ₹20. One expense was ₹80 (sugar). How much was the other expense, for stall fee (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
37. 37.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
38. 38.True or false: “paying the stall fee” is income (money in). (a) False (b) True
39. 39.Aarav’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
40. 40.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?

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