Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 762 · 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.True or false: “paying the stall fee” is income (money in). (a) True (b) False
2. 2.📒 Income or expense: a card order paid? (a) income (b) expense
3. 3.Joseph’s income was ₹240 and the profit was ₹20. One expense was ₹50 (posters). How much was the other expense, for card paper (in ₹)?
4. 4.Kabir’s stall took in ₹310 on Friday, ₹400 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
5. 5.Ishaan’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹150 (paper cups)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) money from sales (d) tutoring fees received
7. 7.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) printing posters (d) buying paper cups
8. 8.Gurpreet’s income was ₹140 and the profit was ₹70. One expense was ₹50 (paper cups). How much was the other expense, for transport (in ₹)?
9. 9.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
10. 10.Dev’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
11. 11.📒 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
12. 12.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) paying the stall fee (d) printing posters
13. 13.Meera’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
14. 14.True or false: “buying lemons” is an expense (money out). (a) True (b) False
15. 15.Rohan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (transport)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
16. 16.Arjun’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
17. 17.Gurpreet’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) bus fare to the market (d) a card order paid
19. 19.Tara’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
20. 20.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.📒 Income or expense: money from sales? (a) income (b) expense
23. 23.Zoya’s stall took in ₹110 on Friday, ₹60 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
24. 24.Joseph’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: cash from selling plants? (a) income (b) expense
26. 26.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) payment for a cake order (d) tutoring fees received
27. 27.Farhan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
28. 28.Saanvi’s stall took in ₹300 on Friday, ₹100 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
29. 29.Riya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
30. 30.Aarav’s stall took in ₹320 on Friday, ₹330 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
31. 31.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
32. 32.Nisha’s income was ₹150 and the profit was ₹60. One expense was ₹20 (paper cups). How much was the other expense, for ribbon (in ₹)?
33. 33.Lakshmi’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
34. 34.Rohan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
35. 35.Zoya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
36. 36.Ananya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
37. 37.Diya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
38. 38.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
39. 39.True or false: “printing posters” is an expense (money out). (a) False (b) True
40. 40.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt

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