Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 388 · 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.Arjun’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹150 (posters)
   Expense: ₹190 (card paper)
   What is the profit (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
3. 3.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
4. 4.Kavya’s record for the day:
   Income: ₹310 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹170 (stall fee)
   What is the profit (in ₹)?
5. 5.Farhan’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹140 (sugar)
   Expense: ₹130 (transport)
   What is the profit (in ₹)?
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
7. 7.Kabir’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹130 (lemons)
   Expense: ₹200 (posters)
   What is the profit (in ₹)?
8. 8.True or false: “paying the stall fee” is income (money in). (a) False (b) True
9. 9.True or false: “tutoring fees received” is income (money in). (a) False (b) True
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹90 (transport)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: printing posters? (a) expense (b) income
12. 12.Rohan’s stall took in ₹390 on Friday, ₹320 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “bus fare to the market” is income (money in). (a) False (b) True
14. 14.Joseph’s stall took in ₹270 on Friday, ₹340 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
15. 15.Meera’s income was ₹460 and the profit was ₹20. One expense was ₹400 (sugar). How much was the other expense, for card paper (in ₹)?
16. 16.📒 Income or expense: paying the stall fee? (a) income (b) expense
17. 17.📒 Income or expense: cash from selling plants? (a) expense (b) income
18. 18.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: buying lemons? (a) expense (b) income
20. 20.True or false: “money from sales” is an expense (money out). (a) False (b) True
21. 21.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
22. 22.📒 Income or expense: payment for a cake order? (a) expense (b) income
23. 23.Meera’s stall took in ₹110 on Friday, ₹170 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
24. 24.Kabir’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹210 (stall fee)
    How much is the loss (in ₹)?
25. 25.Rohan’s income was ₹320 and the profit was ₹150. One expense was ₹140 (transport). How much was the other expense, for sugar (in ₹)?
26. 26.📒 Income or expense: money from sales? (a) income (b) expense
27. 27.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) paying the stall fee
28. 28.True or false: “printing posters” is an expense (money out). (a) False (b) True
29. 29.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
30. 30.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (transport)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
31. 31.True or false: “buying lemons” is an expense (money out). (a) True (b) False
32. 32.Aarav’s income was ₹150 and the profit was ₹130. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
33. 33.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
34. 34.Rohan’s stall took in ₹210 on Friday, ₹230 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
35. 35.Gurpreet’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
36. 36.Kavya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
37. 37.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) money from sales
38. 38.Saanvi’s stall took in ₹250 on Friday, ₹170 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) payment for a cake order (d) a card order paid
40. 40.Dev’s income was ₹390 and the profit was ₹20. One expense was ₹80 (transport). How much was the other expense, for card paper (in ₹)?

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