Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 37 · 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.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
2. 2.Vihaan’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹40 (sugar)
   What is the profit (in ₹)?
3. 3.Diya’s income was ₹350 and the profit was ₹220. One expense was ₹40 (stall fee). How much was the other expense, for posters (in ₹)?
4. 4.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying paper cups (d) buying lemons
5. 5.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
6. 6.📒 Income or expense: bus fare to the market? (a) income (b) expense
7. 7.Dev’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹90 (paper cups)
   Expense: ₹70 (sugar)
   How much is the loss (in ₹)?
8. 8.Zoya’s income was ₹160 and the profit was ₹40. One expense was ₹100 (paper cups). How much was the other expense, for sugar (in ₹)?
9. 9.Nisha’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹80 (transport)
   Expense: ₹160 (stall fee)
   What is the profit (in ₹)?
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
11. 11.Zoya’s stall took in ₹180 on Friday, ₹190 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
12. 12.Aarav’s income was ₹310 and the profit was ₹150. One expense was ₹70 (sugar). How much was the other expense, for stall fee (in ₹)?
13. 13.Nisha’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: printing posters? (a) income (b) expense
15. 15.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
16. 16.True or false: “printing posters” is income (money in). (a) False (b) True
17. 17.Vihaan’s stall took in ₹60 on Friday, ₹230 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
18. 18.Ishaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
19. 19.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) a card order paid (d) bus fare to the market
20. 20.📒 Income or expense: buying lemons? (a) income (b) expense
21. 21.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
22. 22.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
23. 23.Joseph’s stall took in ₹200 on Friday, ₹300 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “money from sales” is income (money in). (a) False (b) True
25. 25.Aarav’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹220 (transport)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
26. 26.Tara’s income was ₹390 and the profit was ₹40. One expense was ₹300 (transport). How much was the other expense, for paper cups (in ₹)?
27. 27.Gurpreet’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
28. 28.Saanvi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) cash from selling plants (d) money from sales
31. 31.📒 Income or expense: paying the stall fee? (a) income (b) expense
32. 32.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
33. 33.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) a card order paid
34. 34.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) tutoring fees received (d) buying lemons
35. 35.Meera’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
36. 36.Kabir’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (posters)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: cash from selling plants? (a) expense (b) income
38. 38.True or false: “printing posters” is an expense (money out). (a) True (b) False
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
40. 40.📒 Income or expense: buying paper cups? (a) expense (b) income

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