Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 224 · 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: buying paper cups? (a) income (b) expense
2. 2.True or false: “buying lemons” is income (money in). (a) True (b) False
3. 3.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
4. 4.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
5. 5.Saanvi’s stall took in ₹80 on Friday, ₹220 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
6. 6.Arjun’s income was ₹290 and the profit was ₹160. One expense was ₹90 (lemons). How much was the other expense, for paper cups (in ₹)?
7. 7.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
8. 8.Rohan’s stall took in ₹70 on Friday, ₹100 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: bus fare to the market? (a) expense (b) income
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
11. 11.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
12. 12.True or false: “money from sales” is income (money in). (a) True (b) False
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
15. 15.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: money from sales? (a) expense (b) income
17. 17.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
18. 18.Aarav’s stall took in ₹190 on Friday, ₹150 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
19. 19.Ishaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: printing posters? (a) income (b) expense
21. 21.Lakshmi’s stall took in ₹100 on Friday, ₹240 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
22. 22.Kabir’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
23. 23.Zoya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
24. 24.Vihaan’s income was ₹480 and the profit was ₹70. One expense was ₹390 (stall fee). How much was the other expense, for ribbon (in ₹)?
25. 25.Gurpreet’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
26. 26.Dev’s stall took in ₹130 on Friday, ₹350 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
27. 27.Farhan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹260 (lemons)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) cash from selling plants (d) money from sales
29. 29.📒 Income or expense: buying lemons? (a) expense (b) income
30. 30.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying paper cups (d) cash from selling plants
31. 31.Saanvi’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (transport)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
33. 33.True or false: “buying paper cups” is income (money in). (a) True (b) False
34. 34.Joseph’s stall took in ₹70 on Friday, ₹340 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
35. 35.Lakshmi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
36. 36.Diya’s income was ₹260 and the profit was ₹150. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
37. 37.Diya’s income was ₹180 and the profit was ₹80. One expense was ₹50 (stall fee). How much was the other expense, for sugar (in ₹)?
38. 38.Ishaan’s income was ₹330 and the profit was ₹50. One expense was ₹70 (posters). How much was the other expense, for transport (in ₹)?
39. 39.📒 Income or expense: payment for a cake order? (a) income (b) expense
40. 40.Diya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹190 (sugar)
    How much is the loss (in ₹)?

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