Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 990 · 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.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) payment for a cake order
3. 3.Kabir’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹60 (ribbon)
   Expense: ₹80 (transport)
   How much is the loss (in ₹)?
4. 4.Ananya’s stall took in ₹390 on Friday, ₹270 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) money from sales
6. 6.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
7. 7.Joseph’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹160 (ribbon)
   Expense: ₹120 (stall fee)
   How much is the loss (in ₹)?
8. 8.Kavya’s income was ₹370 and the profit was ₹330. One expense was ₹30 (transport). How much was the other expense, for lemons (in ₹)?
9. 9.Aarav’s stall took in ₹170 on Friday, ₹320 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
10. 10.Riya’s income was ₹120 and the profit was ₹30. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
11. 11.📒 Income or expense: buying paper cups? (a) expense (b) income
12. 12.Ananya’s income was ₹120 and the profit was ₹40. One expense was ₹70 (paper cups). How much was the other expense, for lemons (in ₹)?
13. 13.True or false: “tutoring fees received” is income (money in). (a) True (b) False
14. 14.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
15. 15.Arjun’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹160 (card paper)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
16. 16.Saanvi’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
17. 17.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) money from sales (d) paying the stall fee
18. 18.Tara’s income was ₹460 and the profit was ₹230. One expense was ₹130 (paper cups). How much was the other expense, for card paper (in ₹)?
19. 19.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
20. 20.Kavya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
22. 22.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
23. 23.Aarav’s income was ₹490 and the profit was ₹330. One expense was ₹130 (posters). How much was the other expense, for sugar (in ₹)?
24. 24.Joseph’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
25. 25.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) buying lemons (d) paying the stall fee
26. 26.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
27. 27.Zoya’s income was ₹490 and the profit was ₹40. One expense was ₹290 (posters). How much was the other expense, for paper cups (in ₹)?
28. 28.True or false: “buying lemons” is income (money in). (a) True (b) False
29. 29.Dev’s income was ₹350 and the profit was ₹20. One expense was ₹170 (posters). How much was the other expense, for transport (in ₹)?
30. 30.Meera’s stall took in ₹210 on Friday, ₹370 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “a card order paid” is an expense (money out). (a) True (b) False
32. 32.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) buying lemons
33. 33.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹210 (lemons)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
34. 34.Ishaan’s income was ₹410 and the profit was ₹200. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
35. 35.Tara’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
36. 36.Gurpreet’s stall took in ₹250 on Friday, ₹120 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) bus fare to the market (d) paying the stall fee
38. 38.Lakshmi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
39. 39.Riya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
40. 40.Dev’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?

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