Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 350 · 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.Ishaan’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹10 (transport)
   Expense: ₹350 (posters)
   How much is the loss (in ₹)?
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) a card order paid (d) payment for a cake order
3. 3.Aarav’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹20 (ribbon)
   Expense: ₹380 (stall fee)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
6. 6.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
7. 7.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
8. 8.Ananya’s stall took in ₹170 on Friday, ₹190 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) money from sales (d) a card order paid
10. 10.Vihaan’s income was ₹320 and the profit was ₹30. One expense was ₹80 (paper cups). How much was the other expense, for sugar (in ₹)?
11. 11.Aarav’s income was ₹430 and the profit was ₹130. One expense was ₹90 (sugar). How much was the other expense, for lemons (in ₹)?
12. 12.True or false: “a card order paid” is an expense (money out). (a) False (b) True
13. 13.True or false: “bus fare to the market” is income (money in). (a) True (b) False
14. 14.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
15. 15.True or false: “buying lemons” is an expense (money out). (a) True (b) False
16. 16.Gurpreet’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: buying paper cups? (a) expense (b) income
18. 18.Tara’s income was ₹410 and the profit was ₹20. One expense was ₹380 (posters). How much was the other expense, for sugar (in ₹)?
19. 19.Lakshmi’s income was ₹290 and the profit was ₹130. One expense was ₹50 (paper cups). How much was the other expense, for card paper (in ₹)?
20. 20.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
21. 21.Meera’s income was ₹210 and the profit was ₹90. One expense was ₹60 (stall fee). How much was the other expense, for transport (in ₹)?
22. 22.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
23. 23.Aarav’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
24. 24.True or false: “printing posters” is an expense (money out). (a) True (b) False
25. 25.True or false: “payment for a cake order” is income (money in). (a) True (b) False
26. 26.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying paper cups (d) paying the stall fee
27. 27.True or false: “paying the stall fee” is income (money in). (a) True (b) False
28. 28.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) money from sales
29. 29.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
30. 30.True or false: “cash from selling plants” is income (money in). (a) False (b) True
31. 31.Arjun’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
32. 32.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
33. 33.Diya’s stall took in ₹210 on Friday, ₹180 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
34. 34.Vihaan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
35. 35.Rohan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
36. 36.Ishaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
37. 37.Kabir’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: bus fare to the market? (a) expense (b) income
39. 39.Gurpreet’s stall took in ₹280 on Friday, ₹100 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
40. 40.Aarav’s income was ₹280 and the profit was ₹120. One expense was ₹110 (sugar). How much was the other expense, for card paper (in ₹)?

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