Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 726 · 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.Lakshmi’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹40 (ribbon)
   Expense: ₹120 (card paper)
   How much is the loss (in ₹)?
2. 2.Saanvi’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹190 (lemons)
   Expense: ₹180 (sugar)
   What is the profit (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
4. 4.True or false: “printing posters” is income (money in). (a) False (b) True
5. 5.Kavya’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹200 (stall fee)
   Expense: ₹130 (paper cups)
   What is the profit (in ₹)?
6. 6.Ishaan’s income was ₹360 and the profit was ₹30. One expense was ₹200 (sugar). How much was the other expense, for stall fee (in ₹)?
7. 7.📒 Income or expense: buying paper cups? (a) income (b) expense
8. 8.True or false: “buying lemons” is income (money in). (a) True (b) False
9. 9.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
10. 10.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) payment for a cake order
11. 11.Zoya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
12. 12.Dev’s stall took in ₹210 on Friday, ₹210 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “tutoring fees received” is income (money in). (a) True (b) False
14. 14.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
15. 15.True or false: “buying paper cups” is income (money in). (a) True (b) False
16. 16.Ishaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
17. 17.True or false: “payment for a cake order” is income (money in). (a) True (b) False
18. 18.Diya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
19. 19.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: payment for a cake order? (a) expense (b) income
21. 21.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
22. 22.Aarav’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: a card order paid? (a) income (b) expense
24. 24.Nisha’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying paper cups (d) a card order paid
26. 26.📒 Income or expense: bus fare to the market? (a) income (b) expense
27. 27.Nisha’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹190 (ribbon)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
28. 28.Gurpreet’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) money from sales
30. 30.Joseph’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
31. 31.True or false: “cash from selling plants” is income (money in). (a) True (b) False
32. 32.📒 Income or expense: money from sales? (a) income (b) expense
33. 33.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) tutoring fees received
34. 34.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) a card order paid (d) paying the stall fee
35. 35.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
36. 36.Kabir’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹540 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
37. 37.Vihaan’s income was ₹290 and the profit was ₹210. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
38. 38.Saanvi’s stall took in ₹120 on Friday, ₹290 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
39. 39.Lakshmi’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
40. 40.True or false: “a card order paid” is income (money in). (a) False (b) True

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