Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 11 · 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.Arjun’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹120 (sugar)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) bus fare to the market (d) payment for a cake order
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
4. 4.Meera’s stall took in ₹360 on Friday, ₹160 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) paying the stall fee (d) buying paper cups
8. 8.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) a card order paid (d) paying the stall fee
9. 9.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
10. 10.True or false: “paying the stall fee” is income (money in). (a) False (b) True
11. 11.📒 Income or expense: buying paper cups? (a) income (b) expense
12. 12.True or false: “a card order paid” is an expense (money out). (a) True (b) False
13. 13.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.📒 Income or expense: paying the stall fee? (a) expense (b) income
16. 16.📒 Income or expense: money from sales? (a) income (b) expense
17. 17.Kavya’s income was ₹260 and the profit was ₹30. One expense was ₹170 (sugar). How much was the other expense, for card paper (in ₹)?
18. 18.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) payment for a cake order
19. 19.Saanvi’s stall took in ₹90 on Friday, ₹180 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
20. 20.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
21. 21.Saanvi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
23. 23.Aarav’s stall took in ₹320 on Friday, ₹360 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
24. 24.Gurpreet’s stall took in ₹270 on Friday, ₹180 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “buying paper cups” is income (money in). (a) True (b) False
26. 26.📒 Income or expense: printing posters? (a) income (b) expense
27. 27.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) money from sales (d) tutoring fees received
28. 28.Zoya’s stall took in ₹150 on Friday, ₹50 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
29. 29.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
30. 30.True or false: “buying lemons” is an expense (money out). (a) True (b) False
31. 31.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
32. 32.Lakshmi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹240 (transport)
    How much is the loss (in ₹)?
33. 33.Joseph’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
34. 34.Vihaan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
35. 35.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
36. 36.Meera’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) printing posters
38. 38.Vihaan’s income was ₹180 and the profit was ₹90. One expense was ₹60 (card paper). How much was the other expense, for lemons (in ₹)?
39. 39.Lakshmi’s income was ₹460 and the profit was ₹290. One expense was ₹120 (card paper). How much was the other expense, for posters (in ₹)?
40. 40.True or false: “money from sales” is income (money in). (a) True (b) False

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