Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 450 · 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.Vihaan’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹30 (posters)
   Expense: ₹150 (paper cups)
   How much is the loss (in ₹)?
2. 2.Farhan’s income was ₹360 and the profit was ₹240. One expense was ₹80 (lemons). How much was the other expense, for transport (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
4. 4.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) buying lemons (d) cash from selling plants
6. 6.📒 Income or expense: a card order paid? (a) expense (b) income
7. 7.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) printing posters (d) buying paper cups
8. 8.Kabir’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹90 (paper cups)
   Expense: ₹100 (ribbon)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) bus fare to the market
10. 10.Kabir’s income was ₹160 and the profit was ₹70. One expense was ₹80 (stall fee). How much was the other expense, for ribbon (in ₹)?
11. 11.Tara’s income was ₹180 and the profit was ₹50. One expense was ₹60 (ribbon). How much was the other expense, for sugar (in ₹)?
12. 12.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.📒 Income or expense: money from sales? (a) income (b) expense
15. 15.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
16. 16.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
17. 17.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
18. 18.Diya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹100 (posters)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
19. 19.Arjun’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
20. 20.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
21. 21.Joseph’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
22. 22.Dev’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
23. 23.Lakshmi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
24. 24.Riya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
25. 25.📒 Income or expense: bus fare to the market? (a) expense (b) income
26. 26.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) bus fare to the market (d) a card order paid
27. 27.Diya’s stall took in ₹120 on Friday, ₹120 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) buying lemons
29. 29.Joseph’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
30. 30.Ananya’s stall took in ₹60 on Friday, ₹70 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: payment for a cake order? (a) expense (b) income
32. 32.Kabir’s stall took in ₹250 on Friday, ₹390 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
34. 34.Riya’s stall took in ₹290 on Friday, ₹270 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
35. 35.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) True (b) False
37. 37.Dev’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹120 (transport)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
38. 38.Dev’s income was ₹260 and the profit was ₹30. One expense was ₹190 (sugar). How much was the other expense, for posters (in ₹)?
39. 39.Saanvi’s stall took in ₹220 on Friday, ₹150 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) paying the stall fee (d) money from sales

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