Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 124 · 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: “bus fare to the market” is income (money in). (a) False (b) True
2. 2.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) printing posters (d) buying lemons
3. 3.📒 Income or expense: buying paper cups? (a) income (b) expense
4. 4.Arjun’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹80 (ribbon)
   Expense: ₹80 (lemons)
   How much is the loss (in ₹)?
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
6. 6.Kabir’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹130 (lemons)
   Expense: ₹200 (card paper)
   How much is the loss (in ₹)?
7. 7.Ishaan’s stall took in ₹320 on Friday, ₹130 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “buying paper cups” is income (money in). (a) False (b) True
9. 9.📒 Income or expense: bus fare to the market? (a) expense (b) income
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.📒 Income or expense: a card order paid? (a) income (b) expense
12. 12.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
13. 13.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
14. 14.Riya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹80 (transport)
    Expense: ₹260 (paper cups)
    How much is the loss (in ₹)?
15. 15.Meera’s stall took in ₹400 on Friday, ₹120 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
16. 16.Kavya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (transport)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
17. 17.Rohan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
18. 18.Aarav’s income was ₹180 and the profit was ₹110. One expense was ₹40 (transport). How much was the other expense, for card paper (in ₹)?
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.Lakshmi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
21. 21.Farhan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (transport)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
22. 22.Dev’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) payment for a cake order (d) buying paper cups
24. 24.📒 Income or expense: money from sales? (a) expense (b) income
25. 25.True or false: “tutoring fees received” is income (money in). (a) False (b) True
26. 26.Arjun’s stall took in ₹260 on Friday, ₹250 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
27. 27.Kabir’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
28. 28.Nisha’s income was ₹380 and the profit was ₹350. One expense was ₹20 (transport). How much was the other expense, for card paper (in ₹)?
29. 29.Tara’s income was ₹180 and the profit was ₹160. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?
30. 30.True or false: “printing posters” is income (money in). (a) True (b) False
31. 31.Gurpreet’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹50 (posters)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
33. 33.Saanvi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
34. 34.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) cash from selling plants
35. 35.Rohan’s stall took in ₹180 on Friday, ₹170 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
36. 36.Zoya’s income was ₹390 and the profit was ₹340. One expense was ₹20 (lemons). How much was the other expense, for transport (in ₹)?
37. 37.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
38. 38.Ananya’s stall took in ₹70 on Friday, ₹50 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying lemons (d) paying the stall fee
40. 40.Dev’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?

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