Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 226 · 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.True or false: “tutoring fees received” is income (money in). (a) False (b) True
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying lemons (d) printing posters
3. 3.Dev’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹200 (sugar)
   Expense: ₹130 (posters)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.Farhan’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹80 (transport)
   Expense: ₹60 (lemons)
   What is the profit (in ₹)?
6. 6.True or false: “printing posters” is income (money in). (a) True (b) False
7. 7.True or false: “bus fare to the market” is income (money in). (a) False (b) True
8. 8.📒 Income or expense: tutoring fees received? (a) income (b) expense
9. 9.Meera’s stall took in ₹390 on Friday, ₹340 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
10. 10.Ananya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹200 (paper cups)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
11. 11.Arjun’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
12. 12.Ananya’s stall took in ₹130 on Friday, ₹160 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
13. 13.Diya’s stall took in ₹280 on Friday, ₹150 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: buying lemons? (a) expense (b) income
15. 15.📒 Income or expense: payment for a cake order? (a) expense (b) income
16. 16.Diya’s stall took in ₹320 on Friday, ₹280 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) payment for a cake order (d) money from sales
18. 18.Meera’s income was ₹340 and the profit was ₹260. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
19. 19.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) bus fare to the market (d) buying lemons
20. 20.Vihaan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
21. 21.Vihaan’s stall took in ₹100 on Friday, ₹110 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
22. 22.Aarav’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
23. 23.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
24. 24.Rohan’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
25. 25.Aarav’s income was ₹200 and the profit was ₹170. One expense was ₹20 (stall fee). How much was the other expense, for transport (in ₹)?
26. 26.Saanvi’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: a card order paid? (a) expense (b) income
28. 28.True or false: “a card order paid” is an expense (money out). (a) True (b) False
29. 29.Nisha’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
30. 30.True or false: “paying the stall fee” is income (money in). (a) False (b) True
31. 31.📒 Income or expense: cash from selling plants? (a) income (b) expense
32. 32.Farhan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
33. 33.Joseph’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
34. 34.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹260 (paper cups)
    How much is the loss (in ₹)?
35. 35.Zoya’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
36. 36.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
37. 37.📒 Income or expense: paying the stall fee? (a) expense (b) income
38. 38.True or false: “cash from selling plants” is income (money in). (a) True (b) False
39. 39.Aarav’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
40. 40.Vihaan’s income was ₹160 and the profit was ₹100. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?

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