Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 268 · 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 an expense (money out)? (a) a card order paid (b) cash from selling plants (c) tutoring fees received (d) paying the stall fee
2. 2.📒 Income or expense: bus fare to the market? (a) income (b) expense
3. 3.📒 Income or expense: payment for a cake order? (a) income (b) expense
4. 4.Vihaan’s stall took in ₹150 on Friday, ₹80 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
6. 6.Diya’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹200 (posters)
   Expense: ₹20 (lemons)
   How much is the loss (in ₹)?
7. 7.True or false: “buying lemons” is an expense (money out). (a) False (b) True
8. 8.Nisha’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹110 (sugar)
   Expense: ₹50 (stall fee)
   How much is the loss (in ₹)?
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) bus fare to the market
11. 11.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
12. 12.True or false: “money from sales” is an expense (money out). (a) False (b) True
13. 13.Ishaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
14. 14.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
15. 15.Gurpreet’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
16. 16.Ananya’s stall took in ₹170 on Friday, ₹180 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
17. 17.Ananya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
18. 18.Farhan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
19. 19.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
20. 20.True or false: “tutoring fees received” is income (money in). (a) False (b) True
21. 21.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
22. 22.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) buying paper cups (d) payment for a cake order
23. 23.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
24. 24.Farhan’s stall took in ₹390 on Friday, ₹290 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
25. 25.Farhan’s income was ₹490 and the profit was ₹370. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
26. 26.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹150 (transport)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: a card order paid? (a) expense (b) income
28. 28.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
29. 29.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
30. 30.Gurpreet’s income was ₹250 and the profit was ₹40. One expense was ₹130 (paper cups). How much was the other expense, for stall fee (in ₹)?
31. 31.📒 Income or expense: buying lemons? (a) income (b) expense
32. 32.Vihaan’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
33. 33.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) a card order paid (d) tutoring fees received
34. 34.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
35. 35.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
36. 36.Kavya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹200 (transport)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
37. 37.Dev’s income was ₹490 and the profit was ₹430. One expense was ₹20 (stall fee). How much was the other expense, for ribbon (in ₹)?
38. 38.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (posters)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
39. 39.Tara’s income was ₹320 and the profit was ₹50. One expense was ₹80 (sugar). How much was the other expense, for paper cups (in ₹)?
40. 40.Meera’s income was ₹300 and the profit was ₹260. One expense was ₹20 (card paper). How much was the other expense, for stall fee (in ₹)?

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