Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 151 · 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.Ananya’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹170 (card paper)
   Expense: ₹130 (posters)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: paying the stall fee? (a) expense (b) income
3. 3.Rohan’s stall took in ₹250 on Friday, ₹340 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “a card order paid” is an expense (money out). (a) False (b) True
5. 5.Riya’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹100 (paper cups)
   Expense: ₹30 (stall fee)
   What is the profit (in ₹)?
6. 6.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
7. 7.Ananya’s stall took in ₹250 on Friday, ₹300 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
8. 8.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
9. 9.Nisha’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹170 (paper cups)
   Expense: ₹20 (ribbon)
   How much is the loss (in ₹)?
10. 10.Rohan’s income was ₹230 and the profit was ₹10. One expense was ₹30 (transport). How much was the other expense, for posters (in ₹)?
11. 11.Meera’s stall took in ₹200 on Friday, ₹270 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) money from sales (d) tutoring fees received
13. 13.Meera’s stall took in ₹330 on Friday, ₹80 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: money from sales? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) bus fare to the market (d) printing posters
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying paper cups (d) paying the stall fee
18. 18.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
20. 20.True or false: “cash from selling plants” is income (money in). (a) True (b) False
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.True or false: “printing posters” is an expense (money out). (a) False (b) True
23. 23.📒 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
24. 24.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
25. 25.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
26. 26.Farhan’s stall took in ₹210 on Friday, ₹190 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
27. 27.Arjun’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
28. 28.Arjun’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
29. 29.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) payment for a cake order (d) buying lemons
31. 31.Riya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
32. 32.Ananya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
33. 33.True or false: “money from sales” is an expense (money out). (a) False (b) True
34. 34.📒 Income or expense: buying paper cups? (a) income (b) expense
35. 35.Aarav’s stall took in ₹250 on Friday, ₹390 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) cash from selling plants (d) buying lemons
37. 37.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) bus fare to the market (d) buying lemons
38. 38.📒 Income or expense: a card order paid? (a) expense (b) income
39. 39.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) bus fare to the market
40. 40.True or false: “paying the stall fee” is income (money in). (a) True (b) False

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