Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 665 · 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.Kabir’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹230 (card paper)
   Expense: ₹40 (sugar)
   How much is the loss (in ₹)?
2. 2.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) a card order paid (d) cash from selling plants
4. 4.Riya’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹190 (ribbon)
   Expense: ₹90 (sugar)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.Ishaan’s income was ₹460 and the profit was ₹160. One expense was ₹100 (lemons). How much was the other expense, for transport (in ₹)?
7. 7.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
8. 8.Kabir’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹140 (paper cups)
   What is the profit (in ₹)?
9. 9.Rohan’s stall took in ₹50 on Friday, ₹100 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
11. 11.True or false: “paying the stall fee” is income (money in). (a) True (b) False
12. 12.📒 Income or expense: money from sales? (a) income (b) expense
13. 13.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) bus fare to the market (d) buying paper cups
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) buying lemons (d) payment for a cake order
15. 15.Lakshmi’s income was ₹450 and the profit was ₹40. One expense was ₹190 (card paper). How much was the other expense, for sugar (in ₹)?
16. 16.Arjun’s stall took in ₹350 on Friday, ₹260 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
17. 17.Nisha’s income was ₹360 and the profit was ₹120. One expense was ₹210 (ribbon). How much was the other expense, for transport (in ₹)?
18. 18.Rohan’s stall took in ₹330 on Friday, ₹160 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: paying the stall fee? (a) income (b) expense
20. 20.Lakshmi’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
21. 21.Dev’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) a card order paid (d) money from sales
23. 23.Rohan’s stall took in ₹370 on Friday, ₹250 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
25. 25.Riya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
26. 26.Ananya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹190 (transport)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
27. 27.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
28. 28.True or false: “bus fare to the market” is income (money in). (a) True (b) False
29. 29.Tara’s stall took in ₹150 on Friday, ₹120 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
30. 30.Tara’s stall took in ₹180 on Friday, ₹380 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
31. 31.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
32. 32.Kabir’s income was ₹280 and the profit was ₹100. One expense was ₹110 (ribbon). How much was the other expense, for card paper (in ₹)?
33. 33.Meera’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
34. 34.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) buying paper cups
35. 35.Vihaan’s stall took in ₹280 on Friday, ₹250 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
36. 36.Aarav’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
37. 37.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
38. 38.Kabir’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹150 (sugar)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
39. 39.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
40. 40.True or false: “buying paper cups” is an expense (money out). (a) True (b) False

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