Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 691 · 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.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
2. 2.Rohan’s income was ₹250 and the profit was ₹230. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
3. 3.Meera’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹190 (ribbon)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
4. 4.Gurpreet’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹90 (sugar)
   Expense: ₹150 (stall fee)
   What is the profit (in ₹)?
5. 5.Aarav’s stall took in ₹360 on Friday, ₹140 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) payment for a cake order (d) a card order paid
7. 7.Lakshmi’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹150 (sugar)
   Expense: ₹80 (stall fee)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: paying the stall fee? (a) income (b) expense
9. 9.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
10. 10.📒 Income or expense: printing posters? (a) expense (b) income
11. 11.Farhan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
12. 12.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
13. 13.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
14. 14.True or false: “cash from selling plants” is income (money in). (a) True (b) False
15. 15.Lakshmi’s income was ₹270 and the profit was ₹230. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
18. 18.Rohan’s stall took in ₹120 on Friday, ₹210 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
19. 19.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (posters)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
20. 20.Kavya’s income was ₹220 and the profit was ₹30. One expense was ₹20 (transport). How much was the other expense, for lemons (in ₹)?
21. 21.📒 Income or expense: cash from selling plants? (a) income (b) expense
22. 22.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) bus fare to the market (d) printing posters
24. 24.📒 Income or expense: tutoring fees received? (a) expense (b) income
25. 25.Ishaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
26. 26.True or false: “buying lemons” is an expense (money out). (a) True (b) False
27. 27.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) bus fare to the market (d) printing posters
28. 28.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) a card order paid (d) bus fare to the market
29. 29.Meera’s income was ₹220 and the profit was ₹80. One expense was ₹100 (sugar). How much was the other expense, for card paper (in ₹)?
30. 30.True or false: “money from sales” is an expense (money out). (a) True (b) False
31. 31.Aarav’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
32. 32.Ishaan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
33. 33.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
34. 34.Tara’s stall took in ₹200 on Friday, ₹180 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
35. 35.Ishaan’s income was ₹360 and the profit was ₹50. One expense was ₹240 (stall fee). How much was the other expense, for sugar (in ₹)?
36. 36.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹160 (transport)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.📒 Income or expense: buying lemons? (a) income (b) expense
39. 39.Meera’s income was ₹160 and the profit was ₹40. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
40. 40.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?

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