Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 328 · 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.Lakshmi’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹100 (ribbon)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
2. 2.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
4. 4.Rohan’s stall took in ₹280 on Friday, ₹270 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
5. 5.Zoya’s stall took in ₹160 on Friday, ₹80 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
6. 6.Dev’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹130 (lemons)
   Expense: ₹80 (card paper)
   What is the profit (in ₹)?
7. 7.True or false: “tutoring fees received” is income (money in). (a) False (b) True
8. 8.Riya’s income was ₹230 and the profit was ₹130. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
9. 9.Vihaan’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹260 (transport)
   Expense: ₹50 (paper cups)
   How much is the loss (in ₹)?
10. 10.Zoya’s stall took in ₹240 on Friday, ₹270 on Saturday and ₹350 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.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
13. 13.📒 Income or expense: money from sales? (a) expense (b) income
14. 14.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying paper cups (d) bus fare to the market
15. 15.True or false: “bus fare to the market” is income (money in). (a) False (b) True
16. 16.True or false: “payment for a cake order” is income (money in). (a) False (b) True
17. 17.Saanvi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹270 (sugar)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.Aarav’s income was ₹210 and the profit was ₹150. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
20. 20.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) paying the stall fee (d) printing posters
21. 21.Meera’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
22. 22.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) printing posters (d) money from sales
23. 23.True or false: “buying paper cups” is income (money in). (a) False (b) True
24. 24.Arjun’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹30 (posters)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
25. 25.📒 Income or expense: buying lemons? (a) income (b) expense
26. 26.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) a card order paid (d) payment for a cake order
27. 27.True or false: “a card order paid” is income (money in). (a) False (b) True
28. 28.Rohan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹180 (transport)
    How much is the loss (in ₹)?
29. 29.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
30. 30.True or false: “money from sales” is an expense (money out). (a) False (b) True
31. 31.📒 Income or expense: buying paper cups? (a) expense (b) income
32. 32.Farhan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (transport)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
33. 33.Farhan’s stall took in ₹210 on Friday, ₹300 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s income was ₹190 and the profit was ₹60. One expense was ₹60 (posters). How much was the other expense, for lemons (in ₹)?
35. 35.📒 Income or expense: cash from selling plants? (a) income (b) expense
36. 36.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
37. 37.Nisha’s stall took in ₹90 on Friday, ₹140 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
38. 38.Arjun’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹500 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
39. 39.Zoya’s stall took in ₹300 on Friday, ₹300 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) paying the stall fee

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