Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 108 · 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.📒 Income or expense: payment for a cake order? (a) expense (b) income
2. 2.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
3. 3.Tara’s stall took in ₹90 on Friday, ₹180 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
5. 5.Aarav’s stall took in ₹50 on Friday, ₹60 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.Arjun’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹170 (stall fee)
   Expense: ₹130 (card paper)
   What is the profit (in ₹)?
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) bus fare to the market (d) tutoring fees received
8. 8.Ishaan’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹130 (paper cups)
   Expense: ₹50 (sugar)
   How much is the loss (in ₹)?
9. 9.Dev’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹460 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹200 (ribbon)
   What is the profit (in ₹)?
10. 10.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
11. 11.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
12. 12.True or false: “cash from selling plants” is income (money in). (a) True (b) False
13. 13.Tara’s stall took in ₹110 on Friday, ₹200 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
14. 14.Tara’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
15. 15.Ishaan’s income was ₹190 and the profit was ₹90. One expense was ₹60 (lemons). How much was the other expense, for stall fee (in ₹)?
16. 16.Farhan’s stall took in ₹320 on Friday, ₹380 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “buying lemons” is income (money in). (a) False (b) True
18. 18.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
19. 19.📒 Income or expense: printing posters? (a) income (b) expense
20. 20.📒 Income or expense: tutoring fees received? (a) income (b) expense
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) cash from selling plants (d) money from sales
23. 23.Aarav’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹120 (transport)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
24. 24.Zoya’s stall took in ₹170 on Friday, ₹360 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
25. 25.Riya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
26. 26.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
27. 27.Farhan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
28. 28.Ananya’s stall took in ₹200 on Friday, ₹80 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
29. 29.Riya’s income was ₹230 and the profit was ₹120. One expense was ₹30 (lemons). How much was the other expense, for paper cups (in ₹)?
30. 30.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
31. 31.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
32. 32.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) buying lemons (d) bus fare to the market
33. 33.Tara’s stall took in ₹240 on Friday, ₹400 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
34. 34.Farhan’s stall took in ₹140 on Friday, ₹370 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “buying paper cups” is income (money in). (a) True (b) False
36. 36.True or false: “tutoring fees received” is income (money in). (a) False (b) True
37. 37.Aarav’s stall took in ₹340 on Friday, ₹390 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
38. 38.Nisha’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
39. 39.Vihaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹320 (card paper)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
40. 40.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income

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