Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 62 · 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.📒 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
2. 2.Nisha’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹80 (posters)
   Expense: ₹110 (stall fee)
   What is the profit (in ₹)?
3. 3.Joseph’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹170 (card paper)
   Expense: ₹190 (sugar)
   How much is the loss (in ₹)?
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) money from sales (d) buying lemons
5. 5.Riya’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹30 (stall fee)
   Expense: ₹130 (card paper)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) money from sales (d) payment for a cake order
7. 7.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) bus fare to the market (d) tutoring fees received
8. 8.📒 Income or expense: tutoring fees received? (a) income (b) expense
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.Arjun’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
11. 11.True or false: “cash from selling plants” is income (money in). (a) False (b) True
12. 12.Saanvi’s income was ₹260 and the profit was ₹110. One expense was ₹50 (sugar). How much was the other expense, for posters (in ₹)?
13. 13.Aarav’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (posters)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
14. 14.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) money from sales
15. 15.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) money from sales (d) tutoring fees received
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) a card order paid (d) payment for a cake order
17. 17.📒 Income or expense: buying paper cups? (a) income (b) expense
18. 18.Rohan’s income was ₹170 and the profit was ₹150. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
19. 19.📒 Income or expense: a card order paid? (a) expense (b) income
20. 20.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.True or false: “buying lemons” is income (money in). (a) True (b) False
23. 23.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
24. 24.Dev’s income was ₹350 and the profit was ₹20. One expense was ₹160 (stall fee). How much was the other expense, for sugar (in ₹)?
25. 25.True or false: “payment for a cake order” is income (money in). (a) False (b) True
26. 26.Saanvi’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
27. 27.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
28. 28.Riya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
29. 29.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
30. 30.Joseph’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
31. 31.Dev’s stall took in ₹320 on Friday, ₹90 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
32. 32.Aarav’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
33. 33.Ishaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
34. 34.Farhan’s stall took in ₹190 on Friday, ₹80 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
35. 35.Kabir’s income was ₹290 and the profit was ₹10. One expense was ₹240 (transport). How much was the other expense, for posters (in ₹)?
36. 36.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
37. 37.Riya’s stall took in ₹100 on Friday, ₹170 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
38. 38.Farhan’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
39. 39.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying paper cups (d) buying lemons
40. 40.Meera’s income was ₹180 and the profit was ₹60. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?

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