Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 160 · 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.Diya’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹90 (posters)
   Expense: ₹150 (transport)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) printing posters (d) tutoring fees received
3. 3.Meera’s income was ₹160 and the profit was ₹100. One expense was ₹10 (posters). How much was the other expense, for transport (in ₹)?
4. 4.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) cash from selling plants (d) printing posters
5. 5.📒 Income or expense: paying the stall fee? (a) expense (b) income
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.Aarav’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹130 (posters)
   Expense: ₹30 (card paper)
   What is the profit (in ₹)?
8. 8.True or false: “paying the stall fee” is income (money in). (a) True (b) False
9. 9.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying paper cups (d) a card order paid
10. 10.Nisha’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
11. 11.Ananya’s stall took in ₹140 on Friday, ₹80 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: a card order paid? (a) expense (b) income
13. 13.📒 Income or expense: tutoring fees received? (a) income (b) expense
14. 14.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
15. 15.Tara’s stall took in ₹290 on Friday, ₹190 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
16. 16.Rohan’s stall took in ₹270 on Friday, ₹210 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
17. 17.Arjun’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
18. 18.Lakshmi’s stall took in ₹80 on Friday, ₹110 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
20. 20.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
21. 21.📒 Income or expense: payment for a cake order? (a) income (b) expense
22. 22.True or false: “printing posters” is income (money in). (a) False (b) True
23. 23.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) paying the stall fee
27. 27.True or false: “a card order paid” is an expense (money out). (a) True (b) False
28. 28.True or false: “printing posters” is an expense (money out). (a) True (b) False
29. 29.True or false: “buying lemons” is an expense (money out). (a) False (b) True
30. 30.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
31. 31.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) bus fare to the market (d) payment for a cake order
32. 32.True or false: “money from sales” is an expense (money out). (a) False (b) True
33. 33.Kavya’s income was ₹400 and the profit was ₹280. One expense was ₹60 (stall fee). How much was the other expense, for card paper (in ₹)?
34. 34.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) cash from selling plants (d) bus fare to the market
35. 35.Ishaan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
36. 36.True or false: “buying paper cups” is income (money in). (a) True (b) False
37. 37.Gurpreet’s stall took in ₹110 on Friday, ₹320 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
38. 38.Nisha’s income was ₹230 and the profit was ₹80. One expense was ₹20 (transport). How much was the other expense, for lemons (in ₹)?
39. 39.True or false: “money from sales” is income (money in). (a) True (b) False
40. 40.Saanvi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?

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