Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 500 · 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.Nisha’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹20 (stall fee)
   Expense: ₹50 (lemons)
   How much is the loss (in ₹)?
2. 2.Aarav’s stall took in ₹270 on Friday, ₹60 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
3. 3.Kabir’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹90 (lemons)
   Expense: ₹140 (paper cups)
   How much is the loss (in ₹)?
4. 4.Tara’s stall took in ₹300 on Friday, ₹380 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) buying paper cups
6. 6.📒 Income or expense: bus fare to the market? (a) income (b) expense
7. 7.True or false: “a card order paid” is income (money in). (a) False (b) True
8. 8.Riya’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹190 (lemons)
   Expense: ₹50 (posters)
   What is the profit (in ₹)?
9. 9.True or false: “tutoring fees received” is income (money in). (a) False (b) True
10. 10.📒 Income or expense: paying the stall fee? (a) expense (b) income
11. 11.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) cash from selling plants (d) paying the stall fee
13. 13.Kabir’s income was ₹240 and the profit was ₹200. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
15. 15.Ishaan’s income was ₹460 and the profit was ₹120. One expense was ₹310 (lemons). How much was the other expense, for stall fee (in ₹)?
16. 16.Nisha’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: buying lemons? (a) expense (b) income
18. 18.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
19. 19.True or false: “paying the stall fee” is income (money in). (a) False (b) True
20. 20.Aarav’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying paper cups (d) buying lemons
22. 22.True or false: “money from sales” is an expense (money out). (a) True (b) False
23. 23.True or false: “printing posters” is an expense (money out). (a) False (b) True
24. 24.Ishaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (posters)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
25. 25.Vihaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: tutoring fees received? (a) expense (b) income
27. 27.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
28. 28.Gurpreet’s income was ₹470 and the profit was ₹150. One expense was ₹50 (ribbon). How much was the other expense, for sugar (in ₹)?
29. 29.True or false: “payment for a cake order” is income (money in). (a) True (b) False
30. 30.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹170 (transport)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
31. 31.Meera’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹40 (posters)
    Expense: ₹200 (paper cups)
    How much is the loss (in ₹)?
32. 32.Gurpreet’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
33. 33.Dev’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: buying paper cups? (a) income (b) expense
35. 35.Joseph’s income was ₹110 and the profit was ₹40. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
36. 36.Dev’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.Vihaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
39. 39.Joseph’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹150 (transport)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
40. 40.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) paying the stall fee (d) tutoring fees received

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