Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 281 · 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.True or false: “payment for a cake order” is income (money in). (a) False (b) True
2. 2.Dev’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹260 (posters)
   Expense: ₹20 (card paper)
   How much is the loss (in ₹)?
3. 3.Vihaan’s stall took in ₹240 on Friday, ₹180 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) tutoring fees received
5. 5.Rohan’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹110 (card paper)
   Expense: ₹130 (lemons)
   How much is the loss (in ₹)?
6. 6.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) bus fare to the market (d) money from sales
7. 7.Farhan’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹60 (stall fee)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
8. 8.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
9. 9.Rohan’s income was ₹500 and the profit was ₹280. One expense was ₹20 (card paper). How much was the other expense, for ribbon (in ₹)?
10. 10.Ananya’s income was ₹410 and the profit was ₹220. One expense was ₹90 (ribbon). How much was the other expense, for lemons (in ₹)?
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) cash from selling plants (d) payment for a cake order
12. 12.Vihaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
13. 13.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
14. 14.True or false: “buying lemons” is an expense (money out). (a) True (b) False
15. 15.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) buying lemons (d) payment for a cake order
16. 16.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹210 (card paper)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
17. 17.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) a card order paid (d) cash from selling plants
18. 18.True or false: “money from sales” is an expense (money out). (a) False (b) True
19. 19.Saanvi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
20. 20.Kavya’s income was ₹230 and the profit was ₹210. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
21. 21.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) a card order paid (d) money from sales
22. 22.Nisha’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: printing posters? (a) expense (b) income
24. 24.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
25. 25.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
26. 26.Vihaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹150 (transport)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: payment for a cake order? (a) income (b) expense
28. 28.📒 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
29. 29.Aarav’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: paying the stall fee? (a) income (b) expense
31. 31.📒 Income or expense: buying lemons? (a) income (b) expense
32. 32.📒 Income or expense: bus fare to the market? (a) income (b) expense
33. 33.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
34. 34.Diya’s income was ₹400 and the profit was ₹120. One expense was ₹150 (posters). How much was the other expense, for card paper (in ₹)?
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
36. 36.Saanvi’s stall took in ₹150 on Friday, ₹200 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
37. 37.Lakshmi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (posters)
    Expense: ₹220 (stall fee)
    How much is the loss (in ₹)?
38. 38.Gurpreet’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹250 (card paper)
    How much is the loss (in ₹)?
39. 39.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
40. 40.📒 Income or expense: buying paper cups? (a) income (b) expense

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