Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 113 · 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.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
2. 2.Rohan’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹40 (ribbon)
   Expense: ₹180 (paper cups)
   What is the profit (in ₹)?
3. 3.Dev’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹60 (lemons)
   What is the profit (in ₹)?
4. 4.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
5. 5.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
6. 6.True or false: “payment for a cake order” is income (money in). (a) True (b) False
7. 7.Aarav’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹50 (sugar)
   Expense: ₹30 (card paper)
   What is the profit (in ₹)?
8. 8.True or false: “a card order paid” is an expense (money out). (a) False (b) True
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
11. 11.True or false: “a card order paid” is income (money in). (a) True (b) False
12. 12.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
13. 13.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) printing posters (d) paying the stall fee
14. 14.Diya’s income was ₹100 and the profit was ₹30. One expense was ₹20 (paper cups). How much was the other expense, for posters (in ₹)?
15. 15.Vihaan’s stall took in ₹100 on Friday, ₹360 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
16. 16.Nisha’s stall took in ₹320 on Friday, ₹120 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: a card order paid? (a) income (b) expense
18. 18.📒 Income or expense: money from sales? (a) expense (b) income
19. 19.📒 Income or expense: cash from selling plants? (a) expense (b) income
20. 20.Meera’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹290 (ribbon)
    How much is the loss (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) buying lemons
23. 23.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) buying paper cups
24. 24.Zoya’s stall took in ₹270 on Friday, ₹230 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
25. 25.Lakshmi’s stall took in ₹290 on Friday, ₹380 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) buying paper cups
27. 27.Aarav’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹40 (transport)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
28. 28.Nisha’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
29. 29.True or false: “printing posters” is an expense (money out). (a) False (b) True
30. 30.True or false: “money from sales” is an expense (money out). (a) False (b) True
31. 31.True or false: “buying paper cups” is income (money in). (a) False (b) True
32. 32.True or false: “paying the stall fee” is income (money in). (a) True (b) False
33. 33.📒 Income or expense: printing posters? (a) expense (b) income
34. 34.Zoya’s income was ₹170 and the profit was ₹120. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
35. 35.Saanvi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
36. 36.Vihaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
37. 37.Arjun’s stall took in ₹240 on Friday, ₹130 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
38. 38.Meera’s income was ₹250 and the profit was ₹10. One expense was ₹90 (stall fee). How much was the other expense, for lemons (in ₹)?
39. 39.Vihaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
40. 40.Tara’s stall took in ₹110 on Friday, ₹340 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?

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