Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 803 · 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.Dev’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹60 (paper cups)
   Expense: ₹110 (transport)
   How much is the loss (in ₹)?
2. 2.Diya’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹90 (paper cups)
   Expense: ₹160 (lemons)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: buying paper cups? (a) expense (b) income
4. 4.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.📒 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
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.Aarav’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹160 (stall fee)
   Expense: ₹40 (ribbon)
   How much is the loss (in ₹)?
9. 9.True or false: “tutoring fees received” is income (money in). (a) True (b) False
10. 10.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) printing posters (d) buying lemons
11. 11.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) bus fare to the market (d) money from sales
12. 12.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) printing posters
13. 13.Meera’s stall took in ₹400 on Friday, ₹60 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
14. 14.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
15. 15.True or false: “bus fare to the market” is income (money in). (a) False (b) True
16. 16.True or false: “money from sales” is an expense (money out). (a) False (b) True
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) money from sales
18. 18.Kavya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
19. 19.Zoya’s income was ₹130 and the profit was ₹50. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
20. 20.True or false: “buying lemons” is income (money in). (a) True (b) False
21. 21.Diya’s stall took in ₹210 on Friday, ₹250 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
22. 22.Meera’s income was ₹200 and the profit was ₹70. One expense was ₹50 (ribbon). How much was the other expense, for posters (in ₹)?
23. 23.📒 Income or expense: a card order paid? (a) income (b) expense
24. 24.Gurpreet’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
25. 25.Nisha’s income was ₹460 and the profit was ₹300. One expense was ₹90 (lemons). How much was the other expense, for transport (in ₹)?
26. 26.True or false: “money from sales” is income (money in). (a) True (b) False
27. 27.True or false: “printing posters” is income (money in). (a) False (b) True
28. 28.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
29. 29.True or false: “printing posters” is an expense (money out). (a) False (b) True
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
31. 31.Kabir’s income was ₹130 and the profit was ₹20. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
32. 32.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying lemons (d) money from sales
33. 33.Riya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
34. 34.Lakshmi’s income was ₹300 and the profit was ₹60. One expense was ₹20 (sugar). How much was the other expense, for card paper (in ₹)?
35. 35.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
36. 36.Rohan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹90 (transport)
    Expense: ₹190 (paper cups)
    How much is the loss (in ₹)?
37. 37.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
38. 38.📒 Income or expense: payment for a cake order? (a) expense (b) income
39. 39.Kabir’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹230 (paper cups)
    How much is the loss (in ₹)?
40. 40.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) paying the stall fee

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