Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 50 · 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.Diya’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹210 (lemons)
   Expense: ₹170 (posters)
   How much is the loss (in ₹)?
2. 2.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) payment for a cake order
3. 3.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) tutoring fees received
4. 4.Saanvi’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹110 (card paper)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
5. 5.Aarav’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹420 (evening sales)
   Expense: ₹120 (card paper)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
6. 6.Meera’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹100 (paper cups)
   Expense: ₹120 (sugar)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: bus fare to the market? (a) expense (b) income
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
9. 9.Vihaan’s record for the day:
   Income: ₹380 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹120 (stall fee)
   Expense: ₹130 (ribbon)
   What is the profit (in ₹)?
10. 10.Tara’s stall took in ₹330 on Friday, ₹60 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
11. 11.Tara’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
12. 12.Tara’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹60 (transport)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: printing posters? (a) income (b) expense
14. 14.Aarav’s stall took in ₹200 on Friday, ₹280 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
15. 15.Lakshmi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
17. 17.True or false: “printing posters” is an expense (money out). (a) True (b) False
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) money from sales (d) a card order paid
20. 20.📒 Income or expense: money from sales? (a) income (b) expense
21. 21.True or false: “cash from selling plants” is income (money in). (a) False (b) True
22. 22.Dev’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹50 (posters)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: buying lemons? (a) income (b) expense
24. 24.Kabir’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
25. 25.Tara’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
26. 26.Vihaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹180 (posters)
    How much is the loss (in ₹)?
27. 27.Arjun’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
28. 28.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
30. 30.Gurpreet’s income was ₹130 and the profit was ₹30. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
31. 31.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) money from sales
32. 32.Dev’s income was ₹370 and the profit was ₹10. One expense was ₹290 (sugar). How much was the other expense, for ribbon (in ₹)?
33. 33.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
34. 34.Diya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
35. 35.Rohan’s stall took in ₹50 on Friday, ₹120 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
36. 36.Farhan’s stall took in ₹100 on Friday, ₹230 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
37. 37.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
38. 38.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹210 (posters)
    How much is the loss (in ₹)?
39. 39.Joseph’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (transport)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
40. 40.📒 Income or expense: cash from selling plants? (a) income (b) expense

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