Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 280 · 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) expense (b) income
2. 2.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
3. 3.Ananya’s income was ₹360 and the profit was ₹240. One expense was ₹30 (stall fee). How much was the other expense, for paper cups (in ₹)?
4. 4.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
5. 5.📒 Income or expense: cash from selling plants? (a) expense (b) income
6. 6.Diya’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹140 (card paper)
   Expense: ₹140 (ribbon)
   How much is the loss (in ₹)?
7. 7.Ishaan’s income was ₹140 and the profit was ₹30. One expense was ₹40 (transport). How much was the other expense, for lemons (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
9. 9.Gurpreet’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹130 (transport)
   Expense: ₹170 (paper cups)
   How much is the loss (in ₹)?
10. 10.Aarav’s stall took in ₹390 on Friday, ₹150 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
11. 11.Riya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
12. 12.Aarav’s stall took in ₹370 on Friday, ₹370 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “buying paper cups” is income (money in). (a) False (b) True
14. 14.True or false: “money from sales” is income (money in). (a) True (b) False
15. 15.Meera’s stall took in ₹60 on Friday, ₹330 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
16. 16.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
17. 17.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) paying the stall fee (d) tutoring fees received
18. 18.📒 Income or expense: paying the stall fee? (a) income (b) expense
19. 19.Dev’s stall took in ₹180 on Friday, ₹110 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) tutoring fees received (d) buying lemons
21. 21.Joseph’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) expense (b) income
23. 23.📒 Income or expense: printing posters? (a) income (b) expense
24. 24.True or false: “buying lemons” is income (money in). (a) True (b) False
25. 25.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) bus fare to the market (d) printing posters
26. 26.True or false: “printing posters” is an expense (money out). (a) False (b) True
27. 27.Zoya’s stall took in ₹220 on Friday, ₹390 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “tutoring fees received” is income (money in). (a) False (b) True
29. 29.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying paper cups (d) cash from selling plants
30. 30.Kavya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹220 (card paper)
    How much is the loss (in ₹)?
31. 31.Joseph’s income was ₹350 and the profit was ₹210. One expense was ₹10 (card paper). How much was the other expense, for transport (in ₹)?
32. 32.Arjun’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
33. 33.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
34. 34.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) cash from selling plants (d) bus fare to the market
35. 35.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: buying lemons? (a) income (b) expense
37. 37.📒 Income or expense: payment for a cake order? (a) expense (b) income
38. 38.Kabir’s stall took in ₹160 on Friday, ₹280 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) printing posters (d) tutoring fees received
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) buying lemons

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