Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 436 · 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.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) buying lemons
2. 2.Kabir’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹140 (posters)
   Expense: ₹170 (sugar)
   What is the profit (in ₹)?
3. 3.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) payment for a cake order (d) buying paper cups
4. 4.Gurpreet’s stall took in ₹220 on Friday, ₹220 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
5. 5.Aarav’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹270 (lemons)
   Expense: ₹20 (paper cups)
   How much is the loss (in ₹)?
6. 6.Lakshmi’s income was ₹320 and the profit was ₹240. One expense was ₹40 (lemons). How much was the other expense, for sugar (in ₹)?
7. 7.Saanvi’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹130 (transport)
   How much is the loss (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
9. 9.📒 Income or expense: payment for a cake order? (a) expense (b) income
10. 10.📒 Income or expense: cash from selling plants? (a) income (b) expense
11. 11.True or false: “buying lemons” is an expense (money out). (a) True (b) False
12. 12.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.Rohan’s stall took in ₹80 on Friday, ₹260 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
16. 16.Tara’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
17. 17.Kavya’s income was ₹230 and the profit was ₹30. One expense was ₹120 (paper cups). How much was the other expense, for transport (in ₹)?
18. 18.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
19. 19.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
20. 20.Farhan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹210 (lemons)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
21. 21.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
22. 22.Aarav’s stall took in ₹60 on Friday, ₹50 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “printing posters” is income (money in). (a) True (b) False
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹300 (card paper)
    How much is the loss (in ₹)?
26. 26.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying lemons (d) payment for a cake order
27. 27.Ishaan’s stall took in ₹300 on Friday, ₹370 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
28. 28.Rohan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹120 (stall fee)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
29. 29.True or false: “payment for a cake order” is income (money in). (a) True (b) False
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) paying the stall fee (d) payment for a cake order
31. 31.Lakshmi’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
32. 32.Riya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
33. 33.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying lemons (d) bus fare to the market
34. 34.Farhan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹180 (ribbon)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
35. 35.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
36. 36.Zoya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
37. 37.Nisha’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
38. 38.Lakshmi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
39. 39.Ananya’s stall took in ₹50 on Friday, ₹230 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
40. 40.Nisha’s stall took in ₹170 on Friday, ₹280 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?

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