Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 940 · 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.Gurpreet’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹160 (stall fee)
   Expense: ₹150 (posters)
   How much is the loss (in ₹)?
2. 2.Tara’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹40 (posters)
   Expense: ₹290 (sugar)
   How much is the loss (in ₹)?
3. 3.Rohan’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹190 (card paper)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
4. 4.True or false: “money from sales” is an expense (money out). (a) True (b) False
5. 5.Farhan’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹130 (lemons)
   Expense: ₹60 (paper cups)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
8. 8.Zoya’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹190 (paper cups)
   Expense: ₹160 (sugar)
   How much is the loss (in ₹)?
9. 9.Gurpreet’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹30 (posters)
   Expense: ₹140 (transport)
   What is the profit (in ₹)?
10. 10.Ananya’s stall took in ₹140 on Friday, ₹340 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “cash from selling plants” is income (money in). (a) True (b) False
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.True or false: “payment for a cake order” is income (money in). (a) True (b) False
14. 14.Meera’s income was ₹310 and the profit was ₹190. One expense was ₹40 (sugar). How much was the other expense, for card paper (in ₹)?
15. 15.Diya’s income was ₹260 and the profit was ₹170. One expense was ₹40 (transport). How much was the other expense, for lemons (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.📒 Income or expense: buying lemons? (a) expense (b) income
19. 19.📒 Income or expense: a card order paid? (a) income (b) expense
20. 20.True or false: “buying paper cups” is income (money in). (a) False (b) True
21. 21.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
22. 22.True or false: “paying the stall fee” is income (money in). (a) True (b) False
23. 23.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) cash from selling plants (d) buying lemons
24. 24.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
25. 25.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) tutoring fees received
26. 26.Zoya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
27. 27.Lakshmi’s stall took in ₹390 on Friday, ₹400 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) buying lemons
29. 29.Rohan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
30. 30.Kabir’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
31. 31.Saanvi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
32. 32.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
33. 33.📒 Income or expense: buying paper cups? (a) income (b) expense
34. 34.📒 Income or expense: payment for a cake order? (a) income (b) expense
35. 35.Aarav’s stall took in ₹60 on Friday, ₹90 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) buying paper cups (d) cash from selling plants
37. 37.Zoya’s income was ₹160 and the profit was ₹100. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
38. 38.📒 Income or expense: printing posters? (a) income (b) expense
39. 39.📒 Income or expense: money from sales? (a) expense (b) income
40. 40.Dev’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?

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