Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 161 · 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.Kabir’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹380 (evening sales)
   Expense: ₹120 (transport)
   Expense: ₹190 (sugar)
   What is the profit (in ₹)?
2. 2.True or false: “buying lemons” is an expense (money out). (a) False (b) True
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
4. 4.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) printing posters
5. 5.Kavya’s income was ₹290 and the profit was ₹110. One expense was ₹110 (card paper). How much was the other expense, for posters (in ₹)?
6. 6.Riya’s income was ₹430 and the profit was ₹290. One expense was ₹120 (posters). How much was the other expense, for stall fee (in ₹)?
7. 7.True or false: “tutoring fees received” is income (money in). (a) True (b) False
8. 8.True or false: “money from sales” is an expense (money out). (a) True (b) False
9. 9.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
10. 10.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
11. 11.📒 Income or expense: printing posters? (a) expense (b) income
12. 12.Kavya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
13. 13.True or false: “buying paper cups” is income (money in). (a) True (b) False
14. 14.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) buying paper cups (d) bus fare to the market
15. 15.Riya’s stall took in ₹300 on Friday, ₹390 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
16. 16.Dev’s income was ₹420 and the profit was ₹10. One expense was ₹190 (posters). How much was the other expense, for sugar (in ₹)?
17. 17.📒 Income or expense: paying the stall fee? (a) expense (b) income
18. 18.True or false: “a card order paid” is an expense (money out). (a) False (b) True
19. 19.Aarav’s income was ₹360 and the profit was ₹130. One expense was ₹30 (transport). How much was the other expense, for card paper (in ₹)?
20. 20.Saanvi’s income was ₹380 and the profit was ₹210. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
21. 21.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) bus fare to the market (d) buying paper cups
22. 22.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) tutoring fees received
23. 23.Kabir’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹200 (paper cups)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: cash from selling plants? (a) expense (b) income
25. 25.Kabir’s income was ₹360 and the profit was ₹120. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
26. 26.True or false: “a card order paid” is income (money in). (a) False (b) True
27. 27.Diya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹270 (paper cups)
    How much is the loss (in ₹)?
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) cash from selling plants (d) buying lemons
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.Kavya’s stall took in ₹180 on Friday, ₹60 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
32. 32.True or false: “printing posters” is an expense (money out). (a) True (b) False
33. 33.True or false: “buying lemons” is income (money in). (a) True (b) False
34. 34.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) a card order paid (d) payment for a cake order
36. 36.True or false: “printing posters” is income (money in). (a) False (b) True
37. 37.Gurpreet’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹290 (posters)
    How much is the loss (in ₹)?
38. 38.Kavya’s stall took in ₹370 on Friday, ₹220 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
39. 39.Saanvi’s income was ₹150 and the profit was ₹90. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
40. 40.Aarav’s stall took in ₹370 on Friday, ₹130 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?

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