Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 21 · 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.Tara’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹70 (transport)
   Expense: ₹60 (posters)
   How much is the loss (in ₹)?
2. 2.Farhan’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹210 (transport)
   How much is the loss (in ₹)?
3. 3.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) printing posters (d) cash from selling plants
4. 4.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
5. 5.Diya’s income was ₹460 and the profit was ₹440. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
6. 6.Ananya’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹80 (ribbon)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
7. 7.Joseph’s income was ₹370 and the profit was ₹240. One expense was ₹20 (lemons). How much was the other expense, for paper cups (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
9. 9.Meera’s income was ₹230 and the profit was ₹130. One expense was ₹90 (ribbon). How much was the other expense, for card paper (in ₹)?
10. 10.Dev’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹310 (transport)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
11. 11.Zoya’s record for the day:
    Income: ₹510 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
12. 12.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
13. 13.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) tutoring fees received
14. 14.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) payment for a cake order (d) printing posters
15. 15.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) money from sales (d) a card order paid
16. 16.📒 Income or expense: bus fare to the market? (a) income (b) expense
17. 17.Meera’s income was ₹400 and the profit was ₹110. One expense was ₹240 (transport). How much was the other expense, for card paper (in ₹)?
18. 18.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) paying the stall fee (d) buying paper cups
19. 19.Joseph’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Ananya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
22. 22.True or false: “paying the stall fee” is income (money in). (a) False (b) True
23. 23.True or false: “tutoring fees received” is income (money in). (a) True (b) False
24. 24.Diya’s stall took in ₹280 on Friday, ₹90 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
25. 25.Meera’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹180 (paper cups)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
26. 26.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) a card order paid (d) paying the stall fee
28. 28.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
29. 29.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
30. 30.True or false: “money from sales” is income (money in). (a) True (b) False
31. 31.Ishaan’s stall took in ₹90 on Friday, ₹150 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
32. 32.Kavya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
33. 33.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) cash from selling plants
34. 34.📒 Income or expense: buying lemons? (a) expense (b) income
35. 35.Arjun’s stall took in ₹230 on Friday, ₹360 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) tutoring fees received (d) payment for a cake order
37. 37.📒 Income or expense: tutoring fees received? (a) income (b) expense
38. 38.📒 Income or expense: a card order paid? (a) expense (b) income
39. 39.Meera’s stall took in ₹120 on Friday, ₹380 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
40. 40.Zoya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹310 (stall fee)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?

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