Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 126 · 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: payment for a cake order? (a) income (b) expense
2. 2.Vihaan’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹20 (lemons)
   Expense: ₹40 (transport)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.Dev’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹80 (posters)
   Expense: ₹140 (sugar)
   What is the profit (in ₹)?
5. 5.Meera’s stall took in ₹90 on Friday, ₹280 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
7. 7.Nisha’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹170 (card paper)
   Expense: ₹80 (stall fee)
   How much is the loss (in ₹)?
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) paying the stall fee
9. 9.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) tutoring fees received (d) cash from selling plants
10. 10.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
11. 11.Gurpreet’s stall took in ₹120 on Friday, ₹70 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “money from sales” is an expense (money out). (a) False (b) True
13. 13.True or false: “cash from selling plants” is income (money in). (a) True (b) False
14. 14.📒 Income or expense: bus fare to the market? (a) income (b) expense
15. 15.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
16. 16.Dev’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹200 (paper cups)
    How much is the loss (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
18. 18.Diya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
19. 19.Aarav’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹310 (stall fee)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
20. 20.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
21. 21.Kavya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹260 (lemons)
    How much is the loss (in ₹)?
22. 22.Arjun’s stall took in ₹80 on Friday, ₹90 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
23. 23.Rohan’s income was ₹380 and the profit was ₹250. One expense was ₹40 (transport). How much was the other expense, for card paper (in ₹)?
24. 24.📒 Income or expense: buying lemons? (a) expense (b) income
25. 25.Kavya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
26. 26.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) paying the stall fee
27. 27.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) printing posters (d) bus fare to the market
28. 28.📒 Income or expense: a card order paid? (a) expense (b) income
29. 29.📒 Income or expense: money from sales? (a) income (b) expense
30. 30.True or false: “paying the stall fee” is income (money in). (a) True (b) False
31. 31.Diya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
32. 32.True or false: “a card order paid” is income (money in). (a) False (b) True
33. 33.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
34. 34.Ishaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
35. 35.Ananya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
36. 36.Riya’s stall took in ₹50 on Friday, ₹170 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) money from sales (d) payment for a cake order
38. 38.Diya’s stall took in ₹170 on Friday, ₹380 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
39. 39.Tara’s income was ₹300 and the profit was ₹130. One expense was ₹120 (transport). How much was the other expense, for lemons (in ₹)?
40. 40.📒 Income or expense: buying paper cups? (a) expense (b) income

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