Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 564 · 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) the bill or receipt (b) a selfie (c) nothing (d) only the bag
2. 2.Rohan’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹70 (posters)
   Expense: ₹40 (card paper)
   What is the profit (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
4. 4.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
5. 5.📒 Income or expense: buying paper cups? (a) expense (b) income
6. 6.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) bus fare to the market (d) cash from selling plants
8. 8.Kabir’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹70 (sugar)
   Expense: ₹170 (ribbon)
   What is the profit (in ₹)?
9. 9.Ishaan’s record for the day:
   Income: ₹510 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹170 (posters)
   Expense: ₹190 (sugar)
   What is the profit (in ₹)?
10. 10.Kavya’s income was ₹270 and the profit was ₹80. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
11. 11.Kavya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
12. 12.True or false: “buying lemons” is income (money in). (a) True (b) False
13. 13.Farhan’s income was ₹170 and the profit was ₹50. One expense was ₹100 (lemons). How much was the other expense, for stall fee (in ₹)?
14. 14.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) a card order paid (d) paying the stall fee
15. 15.Joseph’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.Ananya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: money from sales? (a) income (b) expense
20. 20.Arjun’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹570 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) buying lemons
22. 22.Kavya’s stall took in ₹330 on Friday, ₹320 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
23. 23.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
24. 24.True or false: “money from sales” is income (money in). (a) True (b) False
25. 25.Riya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
26. 26.Aarav’s stall took in ₹100 on Friday, ₹100 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
27. 27.Ishaan’s stall took in ₹250 on Friday, ₹140 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: a card order paid? (a) income (b) expense
29. 29.True or false: “a card order paid” is an expense (money out). (a) True (b) False
30. 30.Tara’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
31. 31.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) bus fare to the market
33. 33.Zoya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
34. 34.True or false: “tutoring fees received” is income (money in). (a) False (b) True
35. 35.📒 Income or expense: cash from selling plants? (a) income (b) expense
36. 36.Lakshmi’s income was ₹130 and the profit was ₹10. One expense was ₹70 (stall fee). How much was the other expense, for transport (in ₹)?
37. 37.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹10 (transport)
    Expense: ₹260 (lemons)
    How much is the loss (in ₹)?
38. 38.Diya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹210 (lemons)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
39. 39.Ishaan’s income was ₹250 and the profit was ₹70. One expense was ₹140 (ribbon). How much was the other expense, for lemons (in ₹)?
40. 40.📒 Income or expense: paying the stall fee? (a) income (b) expense

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