Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 501 · 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.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
2. 2.Vihaan’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹140 (paper cups)
   Expense: ₹190 (card paper)
   How much is the loss (in ₹)?
3. 3.Vihaan’s stall took in ₹250 on Friday, ₹320 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
4. 4.Lakshmi’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹160 (transport)
   Expense: ₹70 (stall fee)
   What is the profit (in ₹)?
5. 5.Dev’s stall took in ₹380 on Friday, ₹120 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
7. 7.Meera’s income was ₹210 and the profit was ₹130. One expense was ₹50 (lemons). How much was the other expense, for posters (in ₹)?
8. 8.Lakshmi’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹80 (ribbon)
   Expense: ₹160 (sugar)
   What is the profit (in ₹)?
9. 9.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) payment for a cake order (d) buying paper cups
10. 10.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) bus fare to the market (d) buying lemons
11. 11.Meera’s income was ₹470 and the profit was ₹250. One expense was ₹180 (ribbon). How much was the other expense, for sugar (in ₹)?
12. 12.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) printing posters (d) tutoring fees received
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
15. 15.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) cash from selling plants (d) paying the stall fee
16. 16.Saanvi’s stall took in ₹110 on Friday, ₹70 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
17. 17.Aarav’s income was ₹190 and the profit was ₹70. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
18. 18.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
19. 19.Ishaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: a card order paid? (a) expense (b) income
21. 21.Dev’s stall took in ₹80 on Friday, ₹300 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
22. 22.Riya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
23. 23.Farhan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹220 (posters)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: tutoring fees received? (a) income (b) expense
25. 25.Dev’s stall took in ₹350 on Friday, ₹290 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
26. 26.Joseph’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
27. 27.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
28. 28.📒 Income or expense: buying lemons? (a) income (b) expense
29. 29.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
30. 30.Tara’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
31. 31.Tara’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
32. 32.Lakshmi’s income was ₹300 and the profit was ₹60. One expense was ₹40 (stall fee). How much was the other expense, for card paper (in ₹)?
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
34. 34.Kabir’s income was ₹180 and the profit was ₹80. One expense was ₹30 (lemons). How much was the other expense, for paper cups (in ₹)?
35. 35.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
36. 36.📒 Income or expense: bus fare to the market? (a) income (b) expense
37. 37.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) buying lemons
38. 38.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) money from sales
39. 39.Gurpreet’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) a card order paid (d) paying the stall fee

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