Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 101 · 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.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) paying the stall fee (d) buying paper cups
2. 2.Kavya’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹100 (stall fee)
   Expense: ₹110 (ribbon)
   How much is the loss (in ₹)?
3. 3.Zoya’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹480 (evening sales)
   Expense: ₹90 (paper cups)
   Expense: ₹180 (ribbon)
   What is the profit (in ₹)?
4. 4.Diya’s stall took in ₹300 on Friday, ₹400 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: buying paper cups? (a) income (b) expense
6. 6.Aarav’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹120 (stall fee)
   Expense: ₹110 (card paper)
   What is the profit (in ₹)?
7. 7.True or false: “paying the stall fee” is income (money in). (a) False (b) True
8. 8.Riya’s income was ₹400 and the profit was ₹310. One expense was ₹30 (posters). How much was the other expense, for transport (in ₹)?
9. 9.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) printing posters
10. 10.Nisha’s stall took in ₹360 on Friday, ₹150 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “money from sales” is an expense (money out). (a) False (b) True
12. 12.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
13. 13.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
14. 14.Kavya’s stall took in ₹400 on Friday, ₹280 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: printing posters? (a) income (b) expense
16. 16.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
18. 18.Dev’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
19. 19.Vihaan’s stall took in ₹230 on Friday, ₹250 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
20. 20.📒 Income or expense: tutoring fees received? (a) expense (b) income
21. 21.📒 Income or expense: buying lemons? (a) income (b) expense
22. 22.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
23. 23.Saanvi’s income was ₹300 and the profit was ₹280. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
24. 24.True or false: “bus fare to the market” is income (money in). (a) True (b) False
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.Zoya’s income was ₹270 and the profit was ₹50. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
27. 27.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
28. 28.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) a card order paid (d) payment for a cake order
29. 29.📒 Income or expense: paying the stall fee? (a) expense (b) income
30. 30.Dev’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹60 (transport)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
31. 31.Rohan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
32. 32.Nisha’s income was ₹480 and the profit was ₹390. One expense was ₹60 (ribbon). How much was the other expense, for lemons (in ₹)?
33. 33.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) buying lemons
34. 34.Farhan’s stall took in ₹240 on Friday, ₹90 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
35. 35.Ananya’s stall took in ₹390 on Friday, ₹280 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
37. 37.Tara’s income was ₹290 and the profit was ₹70. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?
38. 38.Rohan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
39. 39.Riya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹230 (transport)
    How much is the loss (in ₹)?
40. 40.Saanvi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹220 (sugar)
    How much is the loss (in ₹)?

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