Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 118 · 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 income (money in)? (a) a card order paid (b) buying paper cups (c) paying the stall fee (d) printing posters
2. 2.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) buying lemons
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.Aarav’s income was ₹420 and the profit was ₹380. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
5. 5.Aarav’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹160 (transport)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
6. 6.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) buying paper cups
7. 7.Riya’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹190 (transport)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
8. 8.Diya’s stall took in ₹230 on Friday, ₹250 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.True or false: “buying lemons” is income (money in). (a) True (b) False
11. 11.Ananya’s stall took in ₹100 on Friday, ₹400 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “printing posters” is income (money in). (a) True (b) False
13. 13.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
14. 14.Arjun’s income was ₹410 and the profit was ₹120. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
15. 15.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) payment for a cake order (d) buying paper cups
16. 16.Zoya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
18. 18.Kabir’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
20. 20.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
21. 21.True or false: “cash from selling plants” is income (money in). (a) True (b) False
22. 22.Lakshmi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: buying paper cups? (a) expense (b) income
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
25. 25.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
26. 26.Riya’s stall took in ₹270 on Friday, ₹80 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
27. 27.Arjun’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹200 (sugar)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
28. 28.Meera’s income was ₹130 and the profit was ₹80. One expense was ₹30 (stall fee). How much was the other expense, for lemons (in ₹)?
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.Meera’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
31. 31.Ananya’s income was ₹140 and the profit was ₹100. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?
32. 32.Rohan’s stall took in ₹230 on Friday, ₹320 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: bus fare to the market? (a) income (b) expense
34. 34.Ishaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹180 (ribbon)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
35. 35.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) cash from selling plants
36. 36.Rohan’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
37. 37.True or false: “buying lemons” is an expense (money out). (a) True (b) False
38. 38.Tara’s income was ₹210 and the profit was ₹20. One expense was ₹120 (paper cups). How much was the other expense, for sugar (in ₹)?
39. 39.📒 Income or expense: a card order paid? (a) expense (b) income
40. 40.Rohan’s stall took in ₹80 on Friday, ₹380 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?

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