Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 30 · 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) printing posters
2. 2.Tara’s income was ₹240 and the profit was ₹180. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
3. 3.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) money from sales (d) a card order paid
4. 4.True or false: “money from sales” is an expense (money out). (a) True (b) False
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.Aarav’s income was ₹480 and the profit was ₹190. One expense was ₹100 (sugar). How much was the other expense, for posters (in ₹)?
7. 7.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
8. 8.True or false: “tutoring fees received” is income (money in). (a) True (b) False
9. 9.Gurpreet’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹340 (evening sales)
   Expense: ₹140 (card paper)
   Expense: ₹40 (posters)
   What is the profit (in ₹)?
10. 10.Diya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: payment for a cake order? (a) expense (b) income
12. 12.Saanvi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
13. 13.Vihaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹240 (posters)
    How much is the loss (in ₹)?
14. 14.Lakshmi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹300 (paper cups)
    How much is the loss (in ₹)?
15. 15.True or false: “money from sales” is income (money in). (a) True (b) False
16. 16.True or false: “printing posters” is an expense (money out). (a) True (b) False
17. 17.True or false: “printing posters” is income (money in). (a) False (b) True
18. 18.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
19. 19.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) a card order paid
20. 20.True or false: “paying the stall fee” is income (money in). (a) False (b) True
21. 21.Tara’s stall took in ₹150 on Friday, ₹340 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
22. 22.Dev’s stall took in ₹340 on Friday, ₹390 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) money from sales (d) a card order paid
24. 24.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) a card order paid (d) paying the stall fee
25. 25.True or false: “a card order paid” is an expense (money out). (a) True (b) False
26. 26.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
27. 27.Ananya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
28. 28.Dev’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: cash from selling plants? (a) expense (b) income
30. 30.Tara’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
31. 31.Dev’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) payment for a cake order (d) printing posters
33. 33.Arjun’s income was ₹430 and the profit was ₹270. One expense was ₹80 (stall fee). How much was the other expense, for transport (in ₹)?
34. 34.Nisha’s income was ₹100 and the profit was ₹10. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
35. 35.Rohan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: paying the stall fee? (a) income (b) expense
37. 37.Kabir’s stall took in ₹270 on Friday, ₹120 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
38. 38.Diya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
39. 39.Arjun’s stall took in ₹70 on Friday, ₹320 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) cash from selling plants (d) paying the stall fee

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