Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 125 · 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: “buying paper cups” is income (money in). (a) True (b) False
2. 2.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) payment for a cake order
3. 3.📒 Income or expense: payment for a cake order? (a) income (b) expense
4. 4.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
5. 5.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) tutoring fees received
6. 6.Vihaan’s income was ₹170 and the profit was ₹20. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
7. 7.Kabir’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹170 (sugar)
   Expense: ₹160 (ribbon)
   What is the profit (in ₹)?
8. 8.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) paying the stall fee (d) bus fare to the market
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) money from sales (d) tutoring fees received
10. 10.📒 Income or expense: tutoring fees received? (a) expense (b) income
11. 11.True or false: “printing posters” is income (money in). (a) False (b) True
12. 12.True or false: “bus fare to the market” is income (money in). (a) False (b) True
13. 13.Nisha’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
14. 14.True or false: “a card order paid” is income (money in). (a) True (b) False
15. 15.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) cash from selling plants
16. 16.True or false: “tutoring fees received” is income (money in). (a) True (b) False
17. 17.Kavya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
18. 18.Aarav’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
19. 19.Lakshmi’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
20. 20.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: cash from selling plants? (a) income (b) expense
22. 22.Diya’s income was ₹170 and the profit was ₹120. One expense was ₹30 (posters). How much was the other expense, for ribbon (in ₹)?
23. 23.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
24. 24.Zoya’s stall took in ₹360 on Friday, ₹300 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “money from sales” is income (money in). (a) True (b) False
26. 26.Farhan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (transport)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
27. 27.Dev’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹240 (lemons)
    How much is the loss (in ₹)?
28. 28.Aarav’s income was ₹190 and the profit was ₹150. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
29. 29.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
30. 30.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
31. 31.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) paying the stall fee (d) tutoring fees received
33. 33.Tara’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹240 (posters)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: money from sales? (a) income (b) expense
35. 35.Diya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
36. 36.Vihaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
37. 37.Ananya’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
38. 38.Vihaan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹570 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
39. 39.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
40. 40.Gurpreet’s income was ₹300 and the profit was ₹130. One expense was ₹130 (lemons). How much was the other expense, for stall fee (in ₹)?

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