Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 939 · 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: ₹300 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹300 (ribbon)
   How much is the loss (in ₹)?
2. 2.Joseph’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹200 (posters)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
4. 4.True or false: “money from sales” is income (money in). (a) False (b) True
5. 5.True or false: “tutoring fees received” is income (money in). (a) False (b) True
6. 6.📒 Income or expense: bus fare to the market? (a) income (b) expense
7. 7.Lakshmi’s stall took in ₹300 on Friday, ₹80 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
8. 8.Saanvi’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹180 (ribbon)
   Expense: ₹140 (sugar)
   What is the profit (in ₹)?
9. 9.Rohan’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹400 (evening sales)
   Expense: ₹100 (paper cups)
   Expense: ₹170 (stall fee)
   What is the profit (in ₹)?
10. 10.Joseph’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
11. 11.Ananya’s income was ₹100 and the profit was ₹30. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
12. 12.📒 Income or expense: buying lemons? (a) income (b) expense
13. 13.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) printing posters
14. 14.Kavya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
15. 15.True or false: “printing posters” is an expense (money out). (a) True (b) False
16. 16.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
17. 17.Tara’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹100 (stall fee)
    How much is the loss (in ₹)?
18. 18.Ananya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
19. 19.Riya’s stall took in ₹210 on Friday, ₹240 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
20. 20.Ananya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹150 (posters)
    Expense: ₹200 (transport)
    How much is the loss (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) tutoring fees received (d) buying lemons
22. 22.📒 Income or expense: tutoring fees received? (a) income (b) expense
23. 23.Rohan’s stall took in ₹230 on Friday, ₹350 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
24. 24.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
25. 25.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
26. 26.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying lemons (d) cash from selling plants
27. 27.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
28. 28.True or false: “a card order paid” is an expense (money out). (a) True (b) False
29. 29.Ananya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: paying the stall fee? (a) expense (b) income
31. 31.Aarav’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) a card order paid (d) bus fare to the market
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.True or false: “paying the stall fee” is income (money in). (a) True (b) False
35. 35.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹60 (transport)
    Expense: ₹230 (paper cups)
    How much is the loss (in ₹)?
36. 36.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
37. 37.Ishaan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
38. 38.Zoya’s stall took in ₹240 on Friday, ₹180 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
39. 39.Gurpreet’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
40. 40.Aarav’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?

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