Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 81 · 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.Kabir’s stall took in ₹310 on Friday, ₹280 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
2. 2.Vihaan’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹70 (lemons)
   Expense: ₹100 (ribbon)
   What is the profit (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
4. 4.True or false: “a card order paid” is income (money in). (a) True (b) False
5. 5.Meera’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹70 (card paper)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) buying paper cups
7. 7.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
8. 8.📒 Income or expense: buying lemons? (a) expense (b) income
9. 9.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
10. 10.📒 Income or expense: buying paper cups? (a) income (b) expense
11. 11.True or false: “money from sales” is an expense (money out). (a) False (b) True
12. 12.Aarav’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹30 (posters)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: paying the stall fee? (a) expense (b) income
14. 14.True or false: “buying paper cups” is income (money in). (a) True (b) False
15. 15.True or false: “payment for a cake order” is income (money in). (a) True (b) False
16. 16.True or false: “printing posters” is income (money in). (a) True (b) False
17. 17.Farhan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹190 (transport)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
18. 18.True or false: “printing posters” is an expense (money out). (a) False (b) True
19. 19.Riya’s income was ₹380 and the profit was ₹40. One expense was ₹330 (paper cups). How much was the other expense, for transport (in ₹)?
20. 20.Gurpreet’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
21. 21.Meera’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹230 (ribbon)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: printing posters? (a) income (b) expense
23. 23.Rohan’s income was ₹190 and the profit was ₹130. One expense was ₹40 (posters). How much was the other expense, for transport (in ₹)?
24. 24.Farhan’s stall took in ₹100 on Friday, ₹370 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
25. 25.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
26. 26.Ananya’s income was ₹250 and the profit was ₹140. One expense was ₹80 (paper cups). How much was the other expense, for lemons (in ₹)?
27. 27.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) cash from selling plants (d) paying the stall fee
28. 28.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
29. 29.Diya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹290 (posters)
    How much is the loss (in ₹)?
30. 30.Vihaan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
31. 31.True or false: “paying the stall fee” is income (money in). (a) True (b) False
32. 32.Lakshmi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: payment for a cake order? (a) income (b) expense
34. 34.Arjun’s income was ₹470 and the profit was ₹80. One expense was ₹280 (stall fee). How much was the other expense, for posters (in ₹)?
35. 35.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
36. 36.Rohan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
37. 37.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
38. 38.Joseph’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹280 (stall fee)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
39. 39.Tara’s stall took in ₹90 on Friday, ₹330 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
40. 40.Saanvi’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?

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