Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 920 · 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.📒 Income or expense: buying paper cups? (a) income (b) expense
2. 2.Farhan’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹120 (ribbon)
   Expense: ₹60 (stall fee)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: payment for a cake order? (a) expense (b) income
4. 4.📒 Income or expense: cash from selling plants? (a) income (b) expense
5. 5.Kabir’s stall took in ₹230 on Friday, ₹400 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
7. 7.Lakshmi’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹80 (card paper)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
8. 8.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
9. 9.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
10. 10.Dev’s stall took in ₹390 on Friday, ₹160 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
11. 11.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
12. 12.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
13. 13.True or false: “paying the stall fee” is income (money in). (a) False (b) True
14. 14.Ananya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
15. 15.Aarav’s stall took in ₹290 on Friday, ₹310 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
16. 16.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
17. 17.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
18. 18.Saanvi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
19. 19.Farhan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: tutoring fees received? (a) income (b) expense
21. 21.Arjun’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹190 (stall fee)
    How much is the loss (in ₹)?
22. 22.Ishaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
23. 23.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.Ishaan’s income was ₹120 and the profit was ₹70. One expense was ₹30 (transport). How much was the other expense, for sugar (in ₹)?
26. 26.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) cash from selling plants (d) buying paper cups
27. 27.Diya’s income was ₹350 and the profit was ₹230. One expense was ₹100 (sugar). How much was the other expense, for ribbon (in ₹)?
28. 28.Kabir’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
29. 29.True or false: “payment for a cake order” is income (money in). (a) True (b) False
30. 30.Aarav’s income was ₹440 and the profit was ₹230. One expense was ₹90 (ribbon). How much was the other expense, for paper cups (in ₹)?
31. 31.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) money from sales
33. 33.Ishaan’s income was ₹140 and the profit was ₹80. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
34. 34.Joseph’s income was ₹320 and the profit was ₹70. One expense was ₹190 (ribbon). How much was the other expense, for sugar (in ₹)?
35. 35.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) tutoring fees received (d) cash from selling plants
36. 36.Ishaan’s stall took in ₹300 on Friday, ₹220 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
37. 37.Arjun’s income was ₹440 and the profit was ₹380. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
38. 38.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) a card order paid (d) buying lemons
39. 39.📒 Income or expense: paying the stall fee? (a) income (b) expense
40. 40.Kavya’s income was ₹350 and the profit was ₹250. One expense was ₹20 (ribbon). How much was the other expense, for posters (in ₹)?

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