Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 103 · 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 an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) buying paper cups
2. 2.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) money from sales (d) tutoring fees received
3. 3.Gurpreet’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹140 (paper cups)
   Expense: ₹100 (card paper)
   What is the profit (in ₹)?
4. 4.True or false: “bus fare to the market” is income (money in). (a) False (b) True
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) tutoring fees received
6. 6.Meera’s stall took in ₹190 on Friday, ₹120 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
8. 8.Arjun’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹100 (card paper)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: printing posters? (a) income (b) expense
10. 10.📒 Income or expense: tutoring fees received? (a) expense (b) income
11. 11.Rohan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: cash from selling plants? (a) expense (b) income
13. 13.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
14. 14.Aarav’s income was ₹160 and the profit was ₹130. One expense was ₹20 (posters). How much was the other expense, for ribbon (in ₹)?
15. 15.Rohan’s stall took in ₹390 on Friday, ₹70 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “money from sales” is an expense (money out). (a) True (b) False
17. 17.📒 Income or expense: money from sales? (a) income (b) expense
18. 18.True or false: “money from sales” is income (money in). (a) False (b) True
19. 19.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
20. 20.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
21. 21.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) a card order paid
22. 22.Aarav’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹120 (stall fee)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: paying the stall fee? (a) expense (b) income
24. 24.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.Dev’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
27. 27.Kabir’s income was ₹210 and the profit was ₹90. One expense was ₹90 (card paper). How much was the other expense, for sugar (in ₹)?
28. 28.Nisha’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
29. 29.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
30. 30.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
31. 31.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) payment for a cake order (d) buying lemons
32. 32.Meera’s income was ₹130 and the profit was ₹80. One expense was ₹30 (sugar). How much was the other expense, for transport (in ₹)?
33. 33.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
34. 34.Kavya’s stall took in ₹310 on Friday, ₹80 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
35. 35.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
36. 36.Gurpreet’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
37. 37.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) tutoring fees received (d) buying lemons
38. 38.Nisha’s stall took in ₹120 on Friday, ₹350 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) bus fare to the market
40. 40.Aarav’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?

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