Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 810 · 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.Vihaan’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹190 (sugar)
   Expense: ₹40 (transport)
   What is the profit (in ₹)?
2. 2.Ananya’s income was ₹230 and the profit was ₹140. One expense was ₹40 (ribbon). How much was the other expense, for lemons (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
4. 4.Rohan’s stall took in ₹130 on Friday, ₹340 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) paying the stall fee (d) printing posters
6. 6.Kavya’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹180 (ribbon)
   Expense: ₹140 (posters)
   What is the profit (in ₹)?
7. 7.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
8. 8.True or false: “a card order paid” is income (money in). (a) True (b) False
9. 9.Saanvi’s stall took in ₹330 on Friday, ₹270 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: payment for a cake order? (a) expense (b) income
11. 11.True or false: “buying lemons” is income (money in). (a) True (b) False
12. 12.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
13. 13.Zoya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
14. 14.Vihaan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
15. 15.Arjun’s stall took in ₹120 on Friday, ₹400 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
16. 16.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
17. 17.True or false: “money from sales” is an expense (money out). (a) False (b) True
18. 18.Joseph’s income was ₹240 and the profit was ₹120. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
19. 19.Lakshmi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
20. 20.True or false: “buying lemons” is an expense (money out). (a) False (b) True
21. 21.📒 Income or expense: buying lemons? (a) expense (b) income
22. 22.True or false: “paying the stall fee” is income (money in). (a) False (b) True
23. 23.Ananya’s income was ₹210 and the profit was ₹180. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
24. 24.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) a card order paid (d) payment for a cake order
25. 25.Meera’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹130 (posters)
    Expense: ₹270 (lemons)
    How much is the loss (in ₹)?
26. 26.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) money from sales (d) cash from selling plants
27. 27.📒 Income or expense: cash from selling plants? (a) income (b) expense
28. 28.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
29. 29.Rohan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
30. 30.Zoya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
31. 31.Farhan’s stall took in ₹330 on Friday, ₹150 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
32. 32.Lakshmi’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: a card order paid? (a) income (b) expense
34. 34.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) tutoring fees received
35. 35.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
36. 36.Saanvi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: bus fare to the market? (a) expense (b) income
38. 38.Ishaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) expense (b) income
40. 40.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag

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