Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 591 · 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.Joseph’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹30 (sugar)
   Expense: ₹20 (transport)
   What is the profit (in ₹)?
2. 2.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
3. 3.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
4. 4.Saanvi’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹60 (lemons)
   Expense: ₹120 (card paper)
   What is the profit (in ₹)?
5. 5.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
6. 6.Joseph’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹260 (paper cups)
   Expense: ₹10 (stall fee)
   How much is the loss (in ₹)?
7. 7.Farhan’s income was ₹330 and the profit was ₹110. One expense was ₹160 (paper cups). How much was the other expense, for posters (in ₹)?
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) a card order paid
9. 9.📒 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
10. 10.Dev’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹120 (stall fee)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: buying paper cups? (a) income (b) expense
12. 12.Arjun’s stall took in ₹100 on Friday, ₹240 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
13. 13.Tara’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
14. 14.Nisha’s stall took in ₹310 on Friday, ₹290 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
15. 15.Gurpreet’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
16. 16.True or false: “payment for a cake order” is income (money in). (a) True (b) False
17. 17.Tara’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹140 (stall fee)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: payment for a cake order? (a) income (b) expense
19. 19.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) cash from selling plants (d) money from sales
20. 20.Dev’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: paying the stall fee? (a) expense (b) income
22. 22.Tara’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
23. 23.Saanvi’s stall took in ₹400 on Friday, ₹150 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying lemons (d) bus fare to the market
26. 26.Kavya’s stall took in ₹150 on Friday, ₹260 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
28. 28.Ananya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
29. 29.Tara’s income was ₹440 and the profit was ₹160. One expense was ₹80 (paper cups). How much was the other expense, for ribbon (in ₹)?
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
31. 31.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) tutoring fees received
32. 32.📒 Income or expense: money from sales? (a) income (b) expense
33. 33.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
34. 34.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) cash from selling plants (d) paying the stall fee
36. 36.Kabir’s stall took in ₹400 on Friday, ₹360 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
37. 37.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
38. 38.True or false: “a card order paid” is income (money in). (a) True (b) False
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
40. 40.Meera’s income was ₹260 and the profit was ₹50. One expense was ₹120 (ribbon). How much was the other expense, for stall fee (in ₹)?

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