Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 607 · 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.Meera’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹60 (sugar)
   Expense: ₹140 (transport)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) money from sales (d) printing posters
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
4. 4.📒 Income or expense: cash from selling plants? (a) income (b) expense
5. 5.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
6. 6.Meera’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹140 (card paper)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
7. 7.True or false: “printing posters” is income (money in). (a) False (b) True
8. 8.Tara’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹50 (posters)
   Expense: ₹110 (transport)
   How much is the loss (in ₹)?
9. 9.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
10. 10.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) buying lemons (d) paying the stall fee
12. 12.True or false: “a card order paid” is an expense (money out). (a) True (b) False
13. 13.Kavya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
14. 14.True or false: “a card order paid” is income (money in). (a) True (b) False
15. 15.Arjun’s income was ₹330 and the profit was ₹300. One expense was ₹10 (ribbon). How much was the other expense, for sugar (in ₹)?
16. 16.Arjun’s stall took in ₹320 on Friday, ₹90 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
17. 17.Ishaan’s stall took in ₹60 on Friday, ₹60 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) bus fare to the market
19. 19.True or false: “tutoring fees received” is income (money in). (a) True (b) False
20. 20.True or false: “paying the stall fee” is income (money in). (a) True (b) False
21. 21.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) tutoring fees received (d) cash from selling plants
22. 22.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
23. 23.Meera’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹170 (posters)
    How much is the loss (in ₹)?
24. 24.True or false: “bus fare to the market” is income (money in). (a) False (b) True
25. 25.True or false: “buying lemons” is income (money in). (a) True (b) False
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying paper cups (d) buying lemons
27. 27.Ananya’s income was ₹490 and the profit was ₹280. One expense was ₹60 (ribbon). How much was the other expense, for transport (in ₹)?
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
29. 29.Rohan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
30. 30.Tara’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
31. 31.True or false: “printing posters” is an expense (money out). (a) False (b) True
32. 32.Tara’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (posters)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
33. 33.Zoya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹50 (transport)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
34. 34.Aarav’s stall took in ₹130 on Friday, ₹340 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) cash from selling plants
36. 36.Kabir’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
37. 37.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
38. 38.Tara’s income was ₹110 and the profit was ₹40. One expense was ₹60 (card paper). How much was the other expense, for sugar (in ₹)?
39. 39.True or false: “money from sales” is income (money in). (a) False (b) True
40. 40.Lakshmi’s stall took in ₹90 on Friday, ₹110 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?

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