Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 23 · 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.Kavya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹10 (paper cups)
   Expense: ₹90 (stall fee)
   How much is the loss (in ₹)?
2. 2.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) buying paper cups (d) bus fare to the market
3. 3.📒 Income or expense: payment for a cake order? (a) income (b) expense
4. 4.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
5. 5.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) money from sales (d) payment for a cake order
6. 6.📒 Income or expense: paying the stall fee? (a) income (b) expense
7. 7.📒 Income or expense: buying paper cups? (a) expense (b) income
8. 8.Ishaan’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹130 (transport)
   Expense: ₹80 (stall fee)
   What is the profit (in ₹)?
9. 9.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
10. 10.Tara’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
11. 11.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
12. 12.Nisha’s income was ₹200 and the profit was ₹140. One expense was ₹50 (posters). How much was the other expense, for ribbon (in ₹)?
13. 13.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying lemons (d) tutoring fees received
14. 14.Ishaan’s income was ₹160 and the profit was ₹140. One expense was ₹10 (paper cups). How much was the other expense, for lemons (in ₹)?
15. 15.Rohan’s income was ₹120 and the profit was ₹30. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
16. 16.Zoya’s income was ₹420 and the profit was ₹310. One expense was ₹60 (sugar). How much was the other expense, for lemons (in ₹)?
17. 17.Nisha’s stall took in ₹70 on Friday, ₹80 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
18. 18.Zoya’s income was ₹230 and the profit was ₹40. One expense was ₹150 (paper cups). How much was the other expense, for sugar (in ₹)?
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) payment for a cake order (d) a card order paid
20. 20.Aarav’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹210 (stall fee)
    How much is the loss (in ₹)?
21. 21.Nisha’s stall took in ₹250 on Friday, ₹330 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
22. 22.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
23. 23.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
24. 24.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
25. 25.Riya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
26. 26.True or false: “printing posters” is an expense (money out). (a) True (b) False
27. 27.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) printing posters (d) cash from selling plants
28. 28.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹260 (transport)
    How much is the loss (in ₹)?
29. 29.Diya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
30. 30.📒 Income or expense: money from sales? (a) expense (b) income
31. 31.📒 Income or expense: buying lemons? (a) expense (b) income
32. 32.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹170 (sugar)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
33. 33.Meera’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
34. 34.Kavya’s income was ₹130 and the profit was ₹50. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
35. 35.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
36. 36.Farhan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
37. 37.Arjun’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹230 (paper cups)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
38. 38.Farhan’s stall took in ₹350 on Friday, ₹70 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “buying paper cups” is income (money in). (a) False (b) True
40. 40.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False

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