Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 264 · 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.📒 Income or expense: tutoring fees received? (a) income (b) expense
2. 2.📒 Income or expense: buying lemons? (a) income (b) expense
3. 3.📒 Income or expense: bus fare to the market? (a) income (b) expense
4. 4.True or false: “money from sales” is income (money in). (a) True (b) False
5. 5.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
6. 6.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
7. 7.Ananya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹140 (paper cups)
   Expense: ₹100 (stall fee)
   What is the profit (in ₹)?
8. 8.Aarav’s stall took in ₹380 on Friday, ₹100 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) a card order paid (d) buying paper cups
10. 10.📒 Income or expense: buying paper cups? (a) income (b) expense
11. 11.True or false: “cash from selling plants” is income (money in). (a) True (b) False
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.True or false: “bus fare to the market” is income (money in). (a) True (b) False
14. 14.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
15. 15.Ananya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹240 (ribbon)
    How much is the loss (in ₹)?
16. 16.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) tutoring fees received
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
18. 18.Saanvi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹220 (transport)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
19. 19.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
20. 20.Rohan’s stall took in ₹320 on Friday, ₹330 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
21. 21.Rohan’s income was ₹170 and the profit was ₹70. One expense was ₹80 (paper cups). How much was the other expense, for lemons (in ₹)?
22. 22.📒 Income or expense: a card order paid? (a) income (b) expense
23. 23.Kavya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
24. 24.True or false: “paying the stall fee” is income (money in). (a) True (b) False
25. 25.True or false: “buying paper cups” is income (money in). (a) False (b) True
26. 26.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
27. 27.Kabir’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
28. 28.Farhan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
29. 29.Gurpreet’s stall took in ₹70 on Friday, ₹150 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
30. 30.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
31. 31.Meera’s income was ₹130 and the profit was ₹50. One expense was ₹30 (card paper). How much was the other expense, for posters (in ₹)?
32. 32.Kabir’s stall took in ₹340 on Friday, ₹380 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
34. 34.📒 Income or expense: paying the stall fee? (a) expense (b) income
35. 35.Rohan’s income was ₹460 and the profit was ₹50. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
36. 36.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) payment for a cake order (d) buying lemons
37. 37.Arjun’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹240 (posters)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
38. 38.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) payment for a cake order
39. 39.Aarav’s income was ₹200 and the profit was ₹10. One expense was ₹170 (ribbon). How much was the other expense, for paper cups (in ₹)?
40. 40.Zoya’s income was ₹180 and the profit was ₹160. One expense was ₹10 (card paper). How much was the other expense, for transport (in ₹)?

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