Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 110 · 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: bus fare to the market? (a) expense (b) income
2. 2.True or false: “a card order paid” is an expense (money out). (a) True (b) False
3. 3.Meera’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹40 (lemons)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
4. 4.Vihaan’s record for the day:
   Income: ₹430 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹130 (sugar)
   Expense: ₹200 (card paper)
   What is the profit (in ₹)?
5. 5.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
6. 6.Joseph’s income was ₹470 and the profit was ₹110. One expense was ₹280 (stall fee). How much was the other expense, for lemons (in ₹)?
7. 7.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
8. 8.True or false: “paying the stall fee” is income (money in). (a) True (b) False
9. 9.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) a card order paid (d) money from sales
10. 10.📒 Income or expense: a card order paid? (a) income (b) expense
11. 11.Arjun’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
12. 12.Aarav’s income was ₹310 and the profit was ₹90. One expense was ₹100 (paper cups). How much was the other expense, for transport (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) income (b) expense
14. 14.Tara’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
15. 15.Zoya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
16. 16.Joseph’s income was ₹400 and the profit was ₹90. One expense was ₹250 (card paper). How much was the other expense, for stall fee (in ₹)?
17. 17.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) tutoring fees received (d) printing posters
18. 18.Which of these is income (money in)? (a) printing posters (b) money from sales (c) bus fare to the market (d) paying the stall fee
19. 19.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
20. 20.Kavya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
21. 21.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
22. 22.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.Ishaan’s income was ₹270 and the profit was ₹10. One expense was ₹180 (transport). How much was the other expense, for stall fee (in ₹)?
25. 25.True or false: “payment for a cake order” is income (money in). (a) False (b) True
26. 26.Tara’s stall took in ₹130 on Friday, ₹80 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
27. 27.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹130 (transport)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
28. 28.Ishaan’s stall took in ₹390 on Friday, ₹290 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
29. 29.Aarav’s income was ₹210 and the profit was ₹40. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
30. 30.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) payment for a cake order (d) bus fare to the market
31. 31.📒 Income or expense: printing posters? (a) expense (b) income
32. 32.True or false: “money from sales” is income (money in). (a) True (b) False
33. 33.Dev’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
34. 34.True or false: “buying lemons” is income (money in). (a) True (b) False
35. 35.Vihaan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹230 (paper cups)
    How much is the loss (in ₹)?
36. 36.Kavya’s income was ₹480 and the profit was ₹450. One expense was ₹20 (posters). How much was the other expense, for sugar (in ₹)?
37. 37.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) tutoring fees received (d) payment for a cake order
38. 38.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
39. 39.📒 Income or expense: buying paper cups? (a) income (b) expense
40. 40.Joseph’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?

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