Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 332 · 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.Gurpreet’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹20 (card paper)
   Expense: ₹100 (ribbon)
   How much is the loss (in ₹)?
2. 2.Ananya’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹80 (sugar)
   Expense: ₹160 (stall fee)
   How much is the loss (in ₹)?
3. 3.📒 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
4. 4.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying lemons (d) bus fare to the market
5. 5.Dev’s income was ₹200 and the profit was ₹130. One expense was ₹50 (transport). How much was the other expense, for card paper (in ₹)?
6. 6.Diya’s income was ₹380 and the profit was ₹120. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
7. 7.Lakshmi’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹70 (transport)
   Expense: ₹10 (posters)
   How much is the loss (in ₹)?
8. 8.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) a card order paid (d) printing posters
9. 9.Kavya’s income was ₹290 and the profit was ₹230. One expense was ₹40 (card paper). How much was the other expense, for stall fee (in ₹)?
10. 10.Tara’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
11. 11.Rohan’s stall took in ₹270 on Friday, ₹80 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
13. 13.Dev’s income was ₹100 and the profit was ₹80. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
14. 14.Ananya’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
15. 15.True or false: “money from sales” is income (money in). (a) True (b) False
16. 16.Arjun’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹150 (sugar)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
18. 18.Riya’s income was ₹440 and the profit was ₹400. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
19. 19.True or false: “cash from selling plants” is income (money in). (a) False (b) True
20. 20.True or false: “buying paper cups” is income (money in). (a) False (b) True
21. 21.Aarav’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
22. 22.True or false: “printing posters” is an expense (money out). (a) True (b) False
23. 23.Tara’s income was ₹400 and the profit was ₹90. One expense was ₹270 (stall fee). How much was the other expense, for paper cups (in ₹)?
24. 24.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
25. 25.True or false: “a card order paid” is an expense (money out). (a) True (b) False
26. 26.Saanvi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹100 (stall fee)
    How much is the loss (in ₹)?
27. 27.True or false: “buying lemons” is an expense (money out). (a) True (b) False
28. 28.📒 Income or expense: tutoring fees received? (a) expense (b) income
29. 29.Joseph’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) payment for a cake order
31. 31.📒 Income or expense: money from sales? (a) expense (b) income
32. 32.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
33. 33.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹190 (lemons)
    How much is the loss (in ₹)?
34. 34.True or false: “printing posters” is income (money in). (a) False (b) True
35. 35.Kabir’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
36. 36.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
37. 37.Kavya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: buying lemons? (a) expense (b) income
39. 39.Riya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
40. 40.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False

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