Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 948 · 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.Farhan’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹90 (lemons)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
3. 3.Dev’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹130 (posters)
   Expense: ₹70 (lemons)
   How much is the loss (in ₹)?
4. 4.Farhan’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹150 (lemons)
   How much is the loss (in ₹)?
5. 5.Dev’s income was ₹490 and the profit was ₹180. One expense was ₹240 (posters). How much was the other expense, for card paper (in ₹)?
6. 6.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
7. 7.📒 Income or expense: money from sales? (a) income (b) expense
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
9. 9.Ishaan’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹200 (sugar)
   What is the profit (in ₹)?
10. 10.Vihaan’s stall took in ₹310 on Friday, ₹380 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
11. 11.Diya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
12. 12.Nisha’s income was ₹150 and the profit was ₹110. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.Ananya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹230 (paper cups)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
15. 15.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
16. 16.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
17. 17.Kabir’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
18. 18.True or false: “cash from selling plants” is income (money in). (a) False (b) True
19. 19.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
20. 20.Saanvi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
21. 21.True or false: “tutoring fees received” is income (money in). (a) False (b) True
22. 22.Kabir’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
23. 23.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
24. 24.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) tutoring fees received (d) money from sales
25. 25.Ananya’s income was ₹100 and the profit was ₹70. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
26. 26.Arjun’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) tutoring fees received (d) money from sales
28. 28.True or false: “a card order paid” is an expense (money out). (a) False (b) True
29. 29.Saanvi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
30. 30.Arjun’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
31. 31.Zoya’s stall took in ₹340 on Friday, ₹210 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: bus fare to the market? (a) expense (b) income
33. 33.True or false: “bus fare to the market” is income (money in). (a) False (b) True
34. 34.Kavya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
35. 35.Riya’s stall took in ₹180 on Friday, ₹60 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
36. 36.Kavya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
37. 37.Riya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
38. 38.Vihaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
39. 39.True or false: “money from sales” is an expense (money out). (a) True (b) False
40. 40.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?

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