Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 137 · 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: money from sales? (a) income (b) expense
2. 2.True or false: “a card order paid” is an expense (money out). (a) True (b) False
3. 3.Ananya’s income was ₹120 and the profit was ₹30. One expense was ₹30 (paper cups). How much was the other expense, for lemons (in ₹)?
4. 4.True or false: “buying lemons” is income (money in). (a) True (b) False
5. 5.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
6. 6.Vihaan’s stall took in ₹370 on Friday, ₹250 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) bus fare to the market (d) printing posters
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) tutoring fees received
9. 9.Meera’s stall took in ₹220 on Friday, ₹80 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: tutoring fees received? (a) income (b) expense
11. 11.Vihaan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
12. 12.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
13. 13.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) bus fare to the market (d) payment for a cake order
14. 14.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) paying the stall fee (d) buying lemons
15. 15.Ishaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
16. 16.Aarav’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
17. 17.Ishaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹40 (posters)
    Expense: ₹180 (lemons)
    How much is the loss (in ₹)?
18. 18.Zoya’s stall took in ₹380 on Friday, ₹350 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
19. 19.Vihaan’s stall took in ₹120 on Friday, ₹310 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “bus fare to the market” is income (money in). (a) True (b) False
21. 21.Tara’s income was ₹140 and the profit was ₹20. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
22. 22.📒 Income or expense: paying the stall fee? (a) expense (b) income
23. 23.📒 Income or expense: bus fare to the market? (a) expense (b) income
24. 24.Aarav’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹20 (posters)
    Expense: ₹250 (ribbon)
    How much is the loss (in ₹)?
25. 25.📒 Income or expense: buying lemons? (a) income (b) expense
26. 26.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
27. 27.Kavya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
28. 28.True or false: “cash from selling plants” is income (money in). (a) True (b) False
29. 29.Riya’s stall took in ₹230 on Friday, ₹260 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
31. 31.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) bus fare to the market (d) money from sales
32. 32.Meera’s stall took in ₹160 on Friday, ₹270 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
33. 33.Arjun’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
34. 34.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹170 (transport)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
35. 35.Meera’s income was ₹120 and the profit was ₹90. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
36. 36.True or false: “buying lemons” is an expense (money out). (a) False (b) True
37. 37.Aarav’s stall took in ₹400 on Friday, ₹370 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) cash from selling plants
39. 39.Diya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
40. 40.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing

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