Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 199 · 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.Aarav’s stall took in ₹330 on Friday, ₹290 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “money from sales” is income (money in). (a) False (b) True
3. 3.Meera’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹310 (transport)
   How much is the loss (in ₹)?
4. 4.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
5. 5.Arjun’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹130 (lemons)
   Expense: ₹30 (posters)
   What is the profit (in ₹)?
6. 6.True or false: “money from sales” is an expense (money out). (a) True (b) False
7. 7.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) printing posters
8. 8.True or false: “cash from selling plants” is income (money in). (a) False (b) True
9. 9.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying lemons (d) buying paper cups
10. 10.Aarav’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
11. 11.True or false: “printing posters” is income (money in). (a) True (b) False
12. 12.📒 Income or expense: money from sales? (a) income (b) expense
13. 13.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
14. 14.Diya’s stall took in ₹350 on Friday, ₹70 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying lemons (d) payment for a cake order
18. 18.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying paper cups (d) printing posters
19. 19.True or false: “buying lemons” is an expense (money out). (a) False (b) True
20. 20.Zoya’s income was ₹370 and the profit was ₹330. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
21. 21.Rohan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
22. 22.Kabir’s stall took in ₹250 on Friday, ₹60 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “tutoring fees received” is income (money in). (a) False (b) True
24. 24.Aarav’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
25. 25.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
26. 26.Kavya’s income was ₹380 and the profit was ₹250. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
27. 27.True or false: “buying paper cups” is income (money in). (a) True (b) False
28. 28.Aarav’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹90 (transport)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
29. 29.Zoya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹260 (card paper)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
30. 30.True or false: “payment for a cake order” is income (money in). (a) False (b) True
31. 31.Meera’s income was ₹420 and the profit was ₹150. One expense was ₹180 (transport). How much was the other expense, for lemons (in ₹)?
32. 32.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
33. 33.Vihaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹160 (ribbon)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
34. 34.Aarav’s stall took in ₹210 on Friday, ₹140 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
35. 35.Nisha’s stall took in ₹320 on Friday, ₹70 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: payment for a cake order? (a) expense (b) income
37. 37.True or false: “a card order paid” is an expense (money out). (a) True (b) False
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
39. 39.Diya’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
40. 40.Joseph’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (transport)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?

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