Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 254 · 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 the day:
   Income: ₹30 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹150 (stall fee)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
2. 2.True or false: “bus fare to the market” is income (money in). (a) True (b) False
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.Dev’s stall took in ₹270 on Friday, ₹260 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
5. 5.Lakshmi’s stall took in ₹370 on Friday, ₹350 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
6. 6.Kabir’s stall took in ₹140 on Friday, ₹130 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
7. 7.Tara’s income was ₹250 and the profit was ₹70. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
9. 9.True or false: “money from sales” is an expense (money out). (a) True (b) False
10. 10.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) tutoring fees received (d) buying lemons
11. 11.True or false: “a card order paid” is income (money in). (a) True (b) False
12. 12.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
13. 13.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
14. 14.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
15. 15.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) payment for a cake order (d) cash from selling plants
16. 16.True or false: “tutoring fees received” is income (money in). (a) True (b) False
17. 17.Dev’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹80 (transport)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
18. 18.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
19. 19.Nisha’s stall took in ₹340 on Friday, ₹210 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
20. 20.Dev’s income was ₹490 and the profit was ₹20. One expense was ₹440 (posters). How much was the other expense, for card paper (in ₹)?
21. 21.Diya’s stall took in ₹170 on Friday, ₹220 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: bus fare to the market? (a) income (b) expense
23. 23.Zoya’s stall took in ₹150 on Friday, ₹170 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
24. 24.Ananya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
25. 25.Nisha’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹290 (paper cups)
    How much is the loss (in ₹)?
26. 26.True or false: “payment for a cake order” is income (money in). (a) False (b) True
27. 27.📒 Income or expense: buying lemons? (a) income (b) expense
28. 28.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) printing posters (d) tutoring fees received
29. 29.📒 Income or expense: paying the stall fee? (a) expense (b) income
30. 30.📒 Income or expense: payment for a cake order? (a) income (b) expense
31. 31.📒 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
32. 32.Diya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹280 (posters)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: printing posters? (a) income (b) expense
34. 34.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) buying lemons
35. 35.Arjun’s stall took in ₹360 on Friday, ₹280 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
36. 36.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹190 (transport)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
37. 37.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
38. 38.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
39. 39.Nisha’s income was ₹180 and the profit was ₹20. One expense was ₹60 (card paper). How much was the other expense, for sugar (in ₹)?
40. 40.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?

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