Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 673 · 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 a rainy day:
   Income: ₹220 (sales)
   Expense: ₹20 (posters)
   Expense: ₹260 (paper cups)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: payment for a cake order? (a) income (b) expense
3. 3.Aarav’s income was ₹190 and the profit was ₹170. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
4. 4.📒 Income or expense: printing posters? (a) income (b) expense
5. 5.Zoya’s stall took in ₹80 on Friday, ₹200 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.Kabir’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹20 (posters)
   Expense: ₹60 (transport)
   How much is the loss (in ₹)?
8. 8.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) bus fare to the market (d) printing posters
9. 9.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
10. 10.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹50 (posters)
    Expense: ₹250 (paper cups)
    How much is the loss (in ₹)?
11. 11.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
12. 12.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) cash from selling plants (d) payment for a cake order
13. 13.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
14. 14.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) bus fare to the market (d) buying paper cups
15. 15.Diya’s income was ₹170 and the profit was ₹60. One expense was ₹60 (lemons). How much was the other expense, for paper cups (in ₹)?
16. 16.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
17. 17.Kabir’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
18. 18.Tara’s income was ₹240 and the profit was ₹220. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
19. 19.Saanvi’s income was ₹110 and the profit was ₹30. One expense was ₹70 (paper cups). How much was the other expense, for card paper (in ₹)?
20. 20.Diya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
21. 21.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) payment for a cake order (d) tutoring fees received
22. 22.True or false: “paying the stall fee” is income (money in). (a) True (b) False
23. 23.Ananya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
24. 24.Riya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) tutoring fees received (d) money from sales
26. 26.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
27. 27.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
28. 28.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
29. 29.Diya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
30. 30.Rohan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
31. 31.True or false: “payment for a cake order” is income (money in). (a) True (b) False
32. 32.True or false: “printing posters” is income (money in). (a) False (b) True
33. 33.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
34. 34.True or false: “a card order paid” is an expense (money out). (a) False (b) True
35. 35.Nisha’s stall took in ₹150 on Friday, ₹190 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: money from sales? (a) income (b) expense
37. 37.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) money from sales (d) payment for a cake order
38. 38.Ishaan’s income was ₹390 and the profit was ₹140. One expense was ₹200 (ribbon). How much was the other expense, for stall fee (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) income (b) expense
40. 40.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) payment for a cake order (d) bus fare to the market

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