Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 9 · 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.Saanvi’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹190 (posters)
   What is the profit (in ₹)?
2. 2.Arjun’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹100 (stall fee)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: payment for a cake order? (a) income (b) expense
4. 4.True or false: “tutoring fees received” is income (money in). (a) True (b) False
5. 5.Joseph’s stall took in ₹70 on Friday, ₹120 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
7. 7.Nisha’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹10 (lemons)
   Expense: ₹250 (ribbon)
   How much is the loss (in ₹)?
8. 8.Gurpreet’s stall took in ₹340 on Friday, ₹370 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “payment for a cake order” is income (money in). (a) False (b) True
10. 10.Nisha’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
11. 11.Dev’s stall took in ₹220 on Friday, ₹180 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
12. 12.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
13. 13.📒 Income or expense: cash from selling plants? (a) income (b) expense
14. 14.Aarav’s income was ₹100 and the profit was ₹20. One expense was ₹40 (sugar). How much was the other expense, for lemons (in ₹)?
15. 15.Kavya’s stall took in ₹250 on Friday, ₹150 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
16. 16.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
17. 17.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
18. 18.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹250 (stall fee)
    How much is the loss (in ₹)?
19. 19.Aarav’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹300 (paper cups)
    How much is the loss (in ₹)?
20. 20.True or false: “buying paper cups” is income (money in). (a) True (b) False
21. 21.Riya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹160 (transport)
    How much is the loss (in ₹)?
22. 22.True or false: “buying lemons” is an expense (money out). (a) False (b) True
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) cash from selling plants (d) buying paper cups
24. 24.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
25. 25.📒 Income or expense: money from sales? (a) expense (b) income
26. 26.True or false: “buying lemons” is income (money in). (a) False (b) True
27. 27.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
28. 28.📒 Income or expense: printing posters? (a) expense (b) income
29. 29.Aarav’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹120 (transport)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
30. 30.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) paying the stall fee (d) cash from selling plants
31. 31.Kabir’s income was ₹100 and the profit was ₹30. One expense was ₹20 (sugar). How much was the other expense, for ribbon (in ₹)?
32. 32.Vihaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: paying the stall fee? (a) expense (b) income
34. 34.True or false: “cash from selling plants” is income (money in). (a) True (b) False
35. 35.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹100 (posters)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
36. 36.Ishaan’s income was ₹100 and the profit was ₹30. One expense was ₹20 (card paper). How much was the other expense, for stall fee (in ₹)?
37. 37.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) a card order paid
38. 38.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) printing posters (d) bus fare to the market
39. 39.Dev’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: buying lemons? (a) expense (b) income

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