Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 188 · 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.Riya’s income was ₹170 and the profit was ₹140. One expense was ₹10 (card paper). How much was the other expense, for transport (in ₹)?
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying lemons (d) buying paper cups
3. 3.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
4. 4.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
5. 5.Rohan’s stall took in ₹350 on Friday, ₹160 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
6. 6.Nisha’s stall took in ₹290 on Friday, ₹260 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) tutoring fees received (d) a card order paid
8. 8.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order
9. 9.True or false: “paying the stall fee” is income (money in). (a) True (b) False
10. 10.📒 Income or expense: a card order paid? (a) expense (b) income
11. 11.📒 Income or expense: bus fare to the market? (a) income (b) expense
12. 12.📒 Income or expense: cash from selling plants? (a) expense (b) income
13. 13.True or false: “bus fare to the market” is income (money in). (a) True (b) False
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
15. 15.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) printing posters (d) buying lemons
16. 16.Aarav’s stall took in ₹230 on Friday, ₹110 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) bus fare to the market (d) a card order paid
18. 18.Gurpreet’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
19. 19.True or false: “money from sales” is an expense (money out). (a) False (b) True
20. 20.Zoya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
21. 21.Ishaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
22. 22.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹330 (posters)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: tutoring fees received? (a) income (b) expense
24. 24.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
25. 25.Kavya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
26. 26.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
27. 27.Aarav’s income was ₹180 and the profit was ₹50. One expense was ₹20 (sugar). How much was the other expense, for lemons (in ₹)?
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
29. 29.Farhan’s income was ₹200 and the profit was ₹60. One expense was ₹20 (posters). How much was the other expense, for ribbon (in ₹)?
30. 30.Gurpreet’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
31. 31.True or false: “cash from selling plants” is income (money in). (a) True (b) False
32. 32.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
33. 33.Diya’s income was ₹460 and the profit was ₹440. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?
34. 34.Gurpreet’s stall took in ₹250 on Friday, ₹170 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
35. 35.Ishaan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹60 (posters)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
36. 36.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) money from sales (d) tutoring fees received
37. 37.True or false: “tutoring fees received” is income (money in). (a) True (b) False
38. 38.Arjun’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
39. 39.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
40. 40.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing

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