Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 905 · 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.Meera’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹30 (ribbon)
   Expense: ₹110 (sugar)
   How much is the loss (in ₹)?
2. 2.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
3. 3.True or false: “buying lemons” is income (money in). (a) True (b) False
4. 4.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
5. 5.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
6. 6.Dev’s income was ₹380 and the profit was ₹40. One expense was ₹260 (posters). How much was the other expense, for card paper (in ₹)?
7. 7.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) tutoring fees received (d) money from sales
8. 8.Diya’s income was ₹290 and the profit was ₹90. One expense was ₹130 (paper cups). How much was the other expense, for lemons (in ₹)?
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
10. 10.Joseph’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
11. 11.Arjun’s stall took in ₹250 on Friday, ₹150 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order
13. 13.Riya’s income was ₹100 and the profit was ₹30. One expense was ₹20 (sugar). How much was the other expense, for ribbon (in ₹)?
14. 14.Gurpreet’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
15. 15.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
16. 16.Meera’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
17. 17.Ananya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
18. 18.True or false: “bus fare to the market” is income (money in). (a) True (b) False
19. 19.True or false: “money from sales” is an expense (money out). (a) True (b) False
20. 20.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
21. 21.True or false: “printing posters” is income (money in). (a) False (b) True
22. 22.Rohan’s income was ₹130 and the profit was ₹90. One expense was ₹30 (paper cups). How much was the other expense, for card paper (in ₹)?
23. 23.Riya’s income was ₹290 and the profit was ₹170. One expense was ₹50 (posters). How much was the other expense, for ribbon (in ₹)?
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) tutoring fees received
25. 25.Lakshmi’s stall took in ₹80 on Friday, ₹370 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
26. 26.📒 Income or expense: cash from selling plants? (a) expense (b) income
27. 27.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹30 (transport)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
28. 28.Diya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
29. 29.Gurpreet’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: buying paper cups? (a) income (b) expense
31. 31.Rohan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
32. 32.Kavya’s stall took in ₹80 on Friday, ₹100 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) cash from selling plants
34. 34.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) a card order paid (d) tutoring fees received
35. 35.📒 Income or expense: printing posters? (a) expense (b) income
36. 36.Meera’s income was ₹230 and the profit was ₹30. One expense was ₹110 (ribbon). How much was the other expense, for lemons (in ₹)?
37. 37.True or false: “a card order paid” is an expense (money out). (a) False (b) True
38. 38.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: paying the stall fee? (a) income (b) expense
40. 40.Riya’s income was ₹310 and the profit was ₹120. One expense was ₹110 (ribbon). How much was the other expense, for card paper (in ₹)?

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