Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 530 · 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.📒 Income or expense: bus fare to the market? (a) income (b) expense
2. 2.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
3. 3.📒 Income or expense: buying paper cups? (a) expense (b) income
4. 4.Joseph’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹90 (paper cups)
   Expense: ₹130 (lemons)
   How much is the loss (in ₹)?
5. 5.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) paying the stall fee (d) cash from selling plants
6. 6.Saanvi’s income was ₹450 and the profit was ₹70. One expense was ₹350 (ribbon). How much was the other expense, for posters (in ₹)?
7. 7.Diya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹20 (transport)
   Expense: ₹150 (lemons)
   How much is the loss (in ₹)?
8. 8.Diya’s income was ₹160 and the profit was ₹110. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
9. 9.Ananya’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹160 (posters)
   Expense: ₹50 (ribbon)
   How much is the loss (in ₹)?
10. 10.Saanvi’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
11. 11.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
12. 12.Arjun’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
13. 13.True or false: “payment for a cake order” is income (money in). (a) False (b) True
14. 14.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying paper cups (d) money from sales
15. 15.📒 Income or expense: tutoring fees received? (a) income (b) expense
16. 16.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) money from sales (d) payment for a cake order
17. 17.Ishaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
18. 18.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
19. 19.📒 Income or expense: buying lemons? (a) expense (b) income
20. 20.Ananya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹160 (stall fee)
    How much is the loss (in ₹)?
21. 21.Lakshmi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
22. 22.Lakshmi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) a card order paid (d) money from sales
24. 24.Tara’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) bus fare to the market (d) payment for a cake order
26. 26.Kavya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: paying the stall fee? (a) income (b) expense
28. 28.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
29. 29.Diya’s stall took in ₹160 on Friday, ₹380 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
30. 30.Arjun’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
31. 31.True or false: “tutoring fees received” is income (money in). (a) False (b) True
32. 32.Aarav’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
34. 34.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) money from sales (d) printing posters
35. 35.True or false: “money from sales” is income (money in). (a) False (b) True
36. 36.Aarav’s stall took in ₹300 on Friday, ₹350 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
37. 37.Kabir’s stall took in ₹300 on Friday, ₹170 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
38. 38.Joseph’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
39. 39.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
40. 40.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day

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