Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 216 · 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.📒 Income or expense: payment for a cake order? (a) expense (b) income
2. 2.Rohan’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
3. 3.Nisha’s income was ₹250 and the profit was ₹90. One expense was ₹60 (posters). How much was the other expense, for lemons (in ₹)?
4. 4.Rohan’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹50 (card paper)
   Expense: ₹190 (lemons)
   What is the profit (in ₹)?
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying paper cups (d) money from sales
6. 6.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying lemons (d) paying the stall fee
7. 7.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) tutoring fees received (d) a card order paid
8. 8.📒 Income or expense: buying lemons? (a) income (b) expense
9. 9.True or false: “printing posters” is income (money in). (a) False (b) True
10. 10.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
11. 11.Aarav’s stall took in ₹220 on Friday, ₹200 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
12. 12.Diya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
13. 13.True or false: “payment for a cake order” is income (money in). (a) False (b) True
14. 14.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
15. 15.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
16. 16.Lakshmi’s income was ₹140 and the profit was ₹20. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
17. 17.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) paying the stall fee (d) bus fare to the market
18. 18.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
19. 19.Saanvi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹300 (lemons)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
20. 20.Arjun’s stall took in ₹190 on Friday, ₹370 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹110 (transport)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
23. 23.True or false: “a card order paid” is income (money in). (a) True (b) False
24. 24.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
25. 25.Joseph’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
26. 26.Dev’s stall took in ₹360 on Friday, ₹250 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
27. 27.Saanvi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: paying the stall fee? (a) income (b) expense
29. 29.📒 Income or expense: buying paper cups? (a) expense (b) income
30. 30.Zoya’s stall took in ₹380 on Friday, ₹70 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) buying lemons
32. 32.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) money from sales
33. 33.Meera’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
34. 34.True or false: “printing posters” is an expense (money out). (a) False (b) True
35. 35.Lakshmi’s stall took in ₹60 on Friday, ₹170 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “cash from selling plants” is income (money in). (a) False (b) True
37. 37.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) bus fare to the market (d) printing posters
38. 38.Lakshmi’s income was ₹420 and the profit was ₹10. One expense was ₹160 (transport). How much was the other expense, for paper cups (in ₹)?
39. 39.Riya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
40. 40.Kabir’s stall took in ₹280 on Friday, ₹150 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?

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