Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 240 · 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.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) paying the stall fee (d) printing posters
2. 2.True or false: “cash from selling plants” is income (money in). (a) False (b) True
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) payment for a cake order (d) buying paper cups
4. 4.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) payment for a cake order (d) tutoring fees received
5. 5.Joseph’s income was ₹410 and the profit was ₹370. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
6. 6.📒 Income or expense: payment for a cake order? (a) income (b) expense
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
8. 8.Saanvi’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹100 (transport)
   Expense: ₹170 (paper cups)
   What is the profit (in ₹)?
9. 9.Ishaan’s income was ₹360 and the profit was ₹30. One expense was ₹250 (ribbon). How much was the other expense, for posters (in ₹)?
10. 10.Vihaan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹120 (transport)
    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.Meera’s income was ₹480 and the profit was ₹30. One expense was ₹360 (sugar). How much was the other expense, for stall fee (in ₹)?
13. 13.True or false: “bus fare to the market” is income (money in). (a) True (b) False
14. 14.Dev’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
15. 15.Kabir’s income was ₹460 and the profit was ₹80. One expense was ₹180 (ribbon). How much was the other expense, for transport (in ₹)?
16. 16.📒 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
17. 17.Arjun’s stall took in ₹160 on Friday, ₹170 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
18. 18.Rohan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹120 (transport)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: paying the stall fee? (a) income (b) expense
20. 20.📒 Income or expense: a card order paid? (a) income (b) expense
21. 21.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) buying lemons
22. 22.Vihaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
23. 23.Kabir’s income was ₹500 and the profit was ₹280. One expense was ₹190 (posters). How much was the other expense, for stall fee (in ₹)?
24. 24.Vihaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
25. 25.Meera’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹280 (paper cups)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: buying lemons? (a) expense (b) income
27. 27.True or false: “paying the stall fee” is income (money in). (a) True (b) False
28. 28.Zoya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
29. 29.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
30. 30.Meera’s income was ₹350 and the profit was ₹90. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
31. 31.Dev’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
32. 32.True or false: “buying paper cups” is income (money in). (a) False (b) True
33. 33.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
34. 34.True or false: “buying lemons” is an expense (money out). (a) True (b) False
35. 35.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
36. 36.📒 Income or expense: money from sales? (a) expense (b) income
37. 37.True or false: “money from sales” is an expense (money out). (a) True (b) False
38. 38.Kavya’s income was ₹230 and the profit was ₹150. One expense was ₹40 (ribbon). How much was the other expense, for transport (in ₹)?
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) bus fare to the market (d) money from sales
40. 40.Joseph’s stall took in ₹260 on Friday, ₹280 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?

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