Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 252 · 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 lemons (b) printing posters (c) a card order paid (d) bus fare to the market
2. 2.📒 Income or expense: printing posters? (a) expense (b) income
3. 3.Riya’s income was ₹370 and the profit was ₹130. One expense was ₹130 (card paper). How much was the other expense, for paper cups (in ₹)?
4. 4.Gurpreet’s stall took in ₹350 on Friday, ₹60 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
5. 5.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.Lakshmi’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
8. 8.Ishaan’s stall took in ₹150 on Friday, ₹100 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
9. 9.Farhan’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
10. 10.Nisha’s income was ₹180 and the profit was ₹70. One expense was ₹30 (card paper). How much was the other expense, for transport (in ₹)?
11. 11.Riya’s income was ₹340 and the profit was ₹270. One expense was ₹30 (transport). How much was the other expense, for posters (in ₹)?
12. 12.True or false: “buying paper cups” is income (money in). (a) True (b) False
13. 13.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) buying paper cups (d) printing posters
14. 14.True or false: “cash from selling plants” is income (money in). (a) False (b) True
15. 15.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
16. 16.True or false: “a card order paid” is an expense (money out). (a) True (b) False
17. 17.Meera’s stall took in ₹330 on Friday, ₹90 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) a card order paid (d) cash from selling plants
19. 19.Meera’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹140 (posters)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
20. 20.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
21. 21.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) money from sales (d) cash from selling plants
22. 22.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
23. 23.Tara’s income was ₹350 and the profit was ₹170. One expense was ₹170 (transport). How much was the other expense, for ribbon (in ₹)?
24. 24.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
25. 25.Zoya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
26. 26.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹500 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: buying paper cups? (a) income (b) expense
28. 28.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
29. 29.Aarav’s stall took in ₹330 on Friday, ₹90 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
30. 30.Ishaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹220 (stall fee)
    How much is the loss (in ₹)?
31. 31.Vihaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹290 (lemons)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
32. 32.Ananya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
33. 33.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) buying lemons (d) printing posters
34. 34.Riya’s stall took in ₹230 on Friday, ₹220 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) buying paper cups
36. 36.📒 Income or expense: tutoring fees received? (a) income (b) expense
37. 37.True or false: “money from sales” is an expense (money out). (a) False (b) True
38. 38.Gurpreet’s stall took in ₹80 on Friday, ₹400 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
39. 39.Rohan’s stall took in ₹210 on Friday, ₹200 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
40. 40.Ananya’s income was ₹350 and the profit was ₹20. One expense was ₹120 (lemons). How much was the other expense, for card paper (in ₹)?

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