Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 130 · 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: paying the stall fee? (a) income (b) expense
2. 2.True or false: “tutoring fees received” is income (money in). (a) False (b) True
3. 3.Meera’s stall took in ₹290 on Friday, ₹310 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
5. 5.Arjun’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹110 (transport)
   Expense: ₹190 (paper cups)
   How much is the loss (in ₹)?
6. 6.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
7. 7.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) money from sales (d) cash from selling plants
8. 8.Lakshmi’s stall took in ₹160 on Friday, ₹330 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.Lakshmi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
11. 11.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
12. 12.📒 Income or expense: cash from selling plants? (a) expense (b) income
13. 13.Vihaan’s income was ₹210 and the profit was ₹60. One expense was ₹20 (transport). How much was the other expense, for paper cups (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
15. 15.True or false: “a card order paid” is income (money in). (a) True (b) False
16. 16.Gurpreet’s income was ₹380 and the profit was ₹40. One expense was ₹140 (transport). How much was the other expense, for lemons (in ₹)?
17. 17.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) printing posters (d) a card order paid
18. 18.Kabir’s income was ₹200 and the profit was ₹100. One expense was ₹70 (lemons). How much was the other expense, for sugar (in ₹)?
19. 19.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) payment for a cake order
20. 20.True or false: “buying lemons” is an expense (money out). (a) True (b) False
21. 21.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) tutoring fees received
22. 22.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
23. 23.Lakshmi’s income was ₹150 and the profit was ₹130. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
24. 24.Farhan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: money from sales? (a) expense (b) income
26. 26.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) payment for a cake order (d) a card order paid
27. 27.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) printing posters (d) paying the stall fee
28. 28.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
29. 29.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) tutoring fees received
30. 30.Ishaan’s stall took in ₹240 on Friday, ₹400 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: printing posters? (a) income (b) expense
32. 32.Meera’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
33. 33.Nisha’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
34. 34.Rohan’s stall took in ₹70 on Friday, ₹350 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
35. 35.Diya’s income was ₹450 and the profit was ₹50. One expense was ₹280 (paper cups). How much was the other expense, for card paper (in ₹)?
36. 36.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
37. 37.Ananya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
38. 38.Arjun’s stall took in ₹250 on Friday, ₹210 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
39. 39.Kavya’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
40. 40.True or false: “buying lemons” is income (money in). (a) True (b) False

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