Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 640 · 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.Ananya’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹20 (transport)
   What is the profit (in ₹)?
2. 2.Kabir’s income was ₹110 and the profit was ₹10. One expense was ₹60 (stall fee). How much was the other expense, for card paper (in ₹)?
3. 3.True or false: “a card order paid” is an expense (money out). (a) True (b) False
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.Kavya’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹170 (card paper)
   Expense: ₹120 (ribbon)
   What is the profit (in ₹)?
6. 6.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
7. 7.Kavya’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹110 (ribbon)
   Expense: ₹190 (paper cups)
   How much is the loss (in ₹)?
8. 8.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) tutoring fees received
9. 9.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) money from sales (d) a card order paid
10. 10.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) paying the stall fee (d) buying lemons
11. 11.Vihaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
12. 12.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
13. 13.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
15. 15.📒 Income or expense: bus fare to the market? (a) income (b) expense
16. 16.Diya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
17. 17.Farhan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: printing posters? (a) income (b) expense
19. 19.Aarav’s income was ₹140 and the profit was ₹100. One expense was ₹20 (lemons). How much was the other expense, for paper cups (in ₹)?
20. 20.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
21. 21.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
22. 22.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
23. 23.Lakshmi’s income was ₹180 and the profit was ₹70. One expense was ₹60 (ribbon). How much was the other expense, for posters (in ₹)?
24. 24.Joseph’s income was ₹220 and the profit was ₹30. One expense was ₹60 (posters). How much was the other expense, for paper cups (in ₹)?
25. 25.Farhan’s income was ₹200 and the profit was ₹110. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
26. 26.📒 Income or expense: payment for a cake order? (a) income (b) expense
27. 27.Riya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
28. 28.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (transport)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
29. 29.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
30. 30.Kabir’s stall took in ₹170 on Friday, ₹70 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “paying the stall fee” is income (money in). (a) False (b) True
32. 32.Arjun’s income was ₹180 and the profit was ₹40. One expense was ₹120 (stall fee). How much was the other expense, for transport (in ₹)?
33. 33.Saanvi’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹240 (posters)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
34. 34.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) bus fare to the market (d) a card order paid
35. 35.Farhan’s stall took in ₹170 on Friday, ₹150 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) tutoring fees received (d) a card order paid
37. 37.Farhan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
38. 38.Diya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
39. 39.Rohan’s stall took in ₹320 on Friday, ₹230 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
40. 40.Joseph’s income was ₹160 and the profit was ₹70. One expense was ₹80 (ribbon). How much was the other expense, for paper cups (in ₹)?

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