Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 930 · 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.Lakshmi’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹10 (sugar)
   Expense: ₹50 (lemons)
   How much is the loss (in ₹)?
2. 2.Zoya’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹180 (posters)
   Expense: ₹20 (stall fee)
   What is the profit (in ₹)?
3. 3.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) cash from selling plants (d) payment for a cake order
4. 4.Aarav’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹30 (ribbon)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
5. 5.True or false: “cash from selling plants” is income (money in). (a) True (b) False
6. 6.Ananya’s stall took in ₹60 on Friday, ₹210 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
7. 7.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
8. 8.Lakshmi’s stall took in ₹280 on Friday, ₹280 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
9. 9.Saanvi’s stall took in ₹140 on Friday, ₹100 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying paper cups (d) cash from selling plants
11. 11.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
12. 12.📒 Income or expense: payment for a cake order? (a) expense (b) income
13. 13.Kavya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹180 (lemons)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
14. 14.True or false: “payment for a cake order” is income (money in). (a) False (b) True
15. 15.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
16. 16.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) printing posters (d) money from sales
17. 17.Lakshmi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) money from sales (d) cash from selling plants
19. 19.📒 Income or expense: paying the stall fee? (a) income (b) expense
20. 20.Ananya’s stall took in ₹400 on Friday, ₹50 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “buying lemons” is income (money in). (a) False (b) True
22. 22.Aarav’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: cash from selling plants? (a) expense (b) income
24. 24.Vihaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
25. 25.True or false: “a card order paid” is income (money in). (a) False (b) True
26. 26.📒 Income or expense: a card order paid? (a) income (b) expense
27. 27.Tara’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: buying paper cups? (a) expense (b) income
29. 29.Kavya’s stall took in ₹290 on Friday, ₹390 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
31. 31.📒 Income or expense: printing posters? (a) expense (b) income
32. 32.Kabir’s income was ₹410 and the profit was ₹110. One expense was ₹210 (ribbon). How much was the other expense, for lemons (in ₹)?
33. 33.Nisha’s income was ₹210 and the profit was ₹180. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
34. 34.Rohan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
35. 35.Diya’s income was ₹130 and the profit was ₹80. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) True (b) False
37. 37.Diya’s stall took in ₹240 on Friday, ₹310 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
39. 39.Zoya’s income was ₹280 and the profit was ₹220. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
40. 40.True or false: “buying paper cups” is an expense (money out). (a) True (b) False

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