Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 735 · 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.📒 Income or expense: payment for a cake order? (a) income (b) expense
2. 2.Joseph’s record for the day:
   Income: ₹330 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹170 (sugar)
   Expense: ₹20 (posters)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: a card order paid? (a) expense (b) income
4. 4.📒 Income or expense: cash from selling plants? (a) income (b) expense
5. 5.Saanvi’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹30 (card paper)
   Expense: ₹160 (paper cups)
   How much is the loss (in ₹)?
6. 6.True or false: “tutoring fees received” is income (money in). (a) True (b) False
7. 7.Gurpreet’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
8. 8.Saanvi’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹160 (posters)
   Expense: ₹50 (card paper)
   What is the profit (in ₹)?
9. 9.📒 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
10. 10.True or false: “a card order paid” is income (money in). (a) False (b) True
11. 11.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
12. 12.Kabir’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: paying the stall fee? (a) expense (b) income
14. 14.Meera’s income was ₹170 and the profit was ₹140. One expense was ₹20 (lemons). How much was the other expense, for stall fee (in ₹)?
15. 15.Joseph’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying lemons (d) printing posters
18. 18.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
19. 19.True or false: “paying the stall fee” is income (money in). (a) True (b) False
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
21. 21.Ananya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying paper cups (d) cash from selling plants
23. 23.Riya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹320 (lemons)
    How much is the loss (in ₹)?
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) printing posters (d) payment for a cake order
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) paying the stall fee
26. 26.True or false: “money from sales” is income (money in). (a) True (b) False
27. 27.Kavya’s stall took in ₹370 on Friday, ₹80 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
28. 28.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) bus fare to the market
30. 30.True or false: “bus fare to the market” is income (money in). (a) True (b) False
31. 31.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹260 (transport)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
32. 32.Lakshmi’s stall took in ₹180 on Friday, ₹110 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
33. 33.Joseph’s stall took in ₹250 on Friday, ₹180 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
34. 34.Zoya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
35. 35.Tara’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹210 (posters)
    How much is the loss (in ₹)?
36. 36.Kabir’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
37. 37.Farhan’s income was ₹100 and the profit was ₹10. One expense was ₹20 (card paper). How much was the other expense, for ribbon (in ₹)?
38. 38.Dev’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
39. 39.Arjun’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹70 (transport)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False

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