Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 127 · 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: cash from selling plants? (a) expense (b) income
2. 2.True or false: “printing posters” is an expense (money out). (a) True (b) False
3. 3.True or false: “cash from selling plants” is income (money in). (a) True (b) False
4. 4.Nisha’s income was ₹330 and the profit was ₹280. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
5. 5.True or false: “tutoring fees received” is income (money in). (a) False (b) True
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) tutoring fees received
7. 7.Aarav’s income was ₹280 and the profit was ₹110. One expense was ₹80 (card paper). How much was the other expense, for stall fee (in ₹)?
8. 8.True or false: “paying the stall fee” is income (money in). (a) True (b) False
9. 9.Aarav’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹60 (paper cups)
   Expense: ₹230 (ribbon)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: printing posters? (a) income (b) expense
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) a card order paid (d) printing posters
12. 12.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
13. 13.Diya’s income was ₹170 and the profit was ₹10. One expense was ₹90 (sugar). How much was the other expense, for paper cups (in ₹)?
14. 14.Rohan’s income was ₹250 and the profit was ₹40. One expense was ₹160 (ribbon). How much was the other expense, for transport (in ₹)?
15. 15.Tara’s stall took in ₹70 on Friday, ₹170 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
16. 16.Kavya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (transport)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
17. 17.Nisha’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
18. 18.Riya’s stall took in ₹260 on Friday, ₹200 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “money from sales” is an expense (money out). (a) False (b) True
20. 20.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
21. 21.Kavya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
22. 22.True or false: “printing posters” is income (money in). (a) True (b) False
23. 23.Zoya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹140 (posters)
    Expense: ₹160 (stall fee)
    How much is the loss (in ₹)?
24. 24.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) cash from selling plants (d) payment for a cake order
25. 25.Joseph’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
26. 26.Ananya’s income was ₹380 and the profit was ₹20. One expense was ₹60 (stall fee). How much was the other expense, for transport (in ₹)?
27. 27.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) buying lemons (d) bus fare to the market
28. 28.Ananya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (transport)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
29. 29.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
30. 30.Aarav’s income was ₹440 and the profit was ₹180. One expense was ₹140 (posters). How much was the other expense, for sugar (in ₹)?
31. 31.True or false: “money from sales” is income (money in). (a) True (b) False
32. 32.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
33. 33.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
34. 34.Kabir’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹190 (lemons)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
35. 35.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: bus fare to the market? (a) expense (b) income
37. 37.Gurpreet’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
38. 38.Nisha’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
39. 39.True or false: “buying lemons” is an expense (money out). (a) False (b) True
40. 40.Aarav’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?

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