Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 43 · 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.Kavya’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹360 (evening sales)
   Expense: ₹190 (lemons)
   Expense: ₹150 (posters)
   What is the profit (in ₹)?
2. 2.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
3. 3.Lakshmi’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹120 (ribbon)
   Expense: ₹40 (transport)
   How much is the loss (in ₹)?
4. 4.Vihaan’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹180 (transport)
   Expense: ₹50 (lemons)
   How much is the loss (in ₹)?
5. 5.Saanvi’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹100 (sugar)
   Expense: ₹50 (transport)
   How much is the loss (in ₹)?
6. 6.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
7. 7.Ishaan’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹130 (lemons)
   Expense: ₹90 (card paper)
   How much is the loss (in ₹)?
8. 8.Farhan’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹40 (lemons)
   Expense: ₹40 (sugar)
   What is the profit (in ₹)?
9. 9.Ananya’s income was ₹170 and the profit was ₹60. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
10. 10.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
11. 11.📒 Income or expense: buying paper cups? (a) income (b) expense
12. 12.True or false: “printing posters” is an expense (money out). (a) False (b) True
13. 13.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) printing posters (d) bus fare to the market
14. 14.Joseph’s income was ₹100 and the profit was ₹80. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
15. 15.📒 Income or expense: payment for a cake order? (a) expense (b) income
16. 16.📒 Income or expense: money from sales? (a) income (b) expense
17. 17.True or false: “buying lemons” is an expense (money out). (a) True (b) False
18. 18.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
19. 19.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
20. 20.Farhan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
21. 21.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹100 (transport)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
22. 22.Arjun’s income was ₹120 and the profit was ₹70. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
23. 23.📒 Income or expense: cash from selling plants? (a) income (b) expense
24. 24.True or false: “money from sales” is an expense (money out). (a) True (b) False
25. 25.Vihaan’s income was ₹110 and the profit was ₹70. One expense was ₹30 (sugar). How much was the other expense, for transport (in ₹)?
26. 26.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
27. 27.True or false: “a card order paid” is an expense (money out). (a) False (b) True
28. 28.True or false: “printing posters” is income (money in). (a) True (b) False
29. 29.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) paying the stall fee (d) buying lemons
30. 30.Gurpreet’s income was ₹300 and the profit was ₹170. One expense was ₹70 (stall fee). How much was the other expense, for sugar (in ₹)?
31. 31.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) a card order paid (d) tutoring fees received
32. 32.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
33. 33.Kavya’s income was ₹190 and the profit was ₹150. One expense was ₹10 (sugar). How much was the other expense, for transport (in ₹)?
34. 34.📒 Income or expense: printing posters? (a) expense (b) income
35. 35.Saanvi’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
36. 36.Ananya’s income was ₹420 and the profit was ₹170. One expense was ₹50 (lemons). How much was the other expense, for paper cups (in ₹)?
37. 37.Farhan’s income was ₹410 and the profit was ₹110. One expense was ₹70 (lemons). How much was the other expense, for stall fee (in ₹)?
38. 38.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
39. 39.Dev’s income was ₹160 and the profit was ₹20. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
40. 40.Vihaan’s stall took in ₹230 on Friday, ₹140 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?

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