Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 835 · 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.Arjun’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹80 (ribbon)
   Expense: ₹20 (paper cups)
   How much is the loss (in ₹)?
2. 2.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
3. 3.Gurpreet’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹170 (paper cups)
   Expense: ₹140 (stall fee)
   What is the profit (in ₹)?
4. 4.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
5. 5.Kabir’s stall took in ₹230 on Friday, ₹50 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
7. 7.Aarav’s stall took in ₹90 on Friday, ₹100 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) buying lemons (d) payment for a cake order
10. 10.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) money from sales (d) a card order paid
11. 11.Ananya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
12. 12.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (posters)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
13. 13.Joseph’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹180 (posters)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
14. 14.Ananya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
15. 15.Arjun’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹150 (transport)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
16. 16.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) paying the stall fee (d) buying lemons
17. 17.True or false: “cash from selling plants” is income (money in). (a) False (b) True
18. 18.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
19. 19.📒 Income or expense: buying lemons? (a) expense (b) income
20. 20.True or false: “payment for a cake order” is income (money in). (a) False (b) True
21. 21.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
22. 22.True or false: “tutoring fees received” is income (money in). (a) True (b) False
23. 23.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
24. 24.True or false: “paying the stall fee” is income (money in). (a) True (b) False
25. 25.True or false: “buying paper cups” is income (money in). (a) True (b) False
26. 26.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
27. 27.Riya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
28. 28.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
29. 29.Joseph’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
30. 30.Dev’s income was ₹300 and the profit was ₹50. One expense was ₹140 (posters). How much was the other expense, for transport (in ₹)?
31. 31.Joseph’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
32. 32.Tara’s income was ₹140 and the profit was ₹90. One expense was ₹30 (ribbon). How much was the other expense, for sugar (in ₹)?
33. 33.True or false: “a card order paid” is income (money in). (a) False (b) True
34. 34.Rohan’s income was ₹300 and the profit was ₹150. One expense was ₹30 (stall fee). How much was the other expense, for sugar (in ₹)?
35. 35.Tara’s income was ₹180 and the profit was ₹50. One expense was ₹40 (lemons). How much was the other expense, for stall fee (in ₹)?
36. 36.Lakshmi’s stall took in ₹400 on Friday, ₹50 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
37. 37.Farhan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
38. 38.Zoya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹220 (paper cups)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
39. 39.Which of these is income (money in)? (a) printing posters (b) money from sales (c) paying the stall fee (d) buying paper cups
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) bus fare to the market

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