Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 302 · 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.📒 Income or expense: a card order paid? (a) expense (b) income
3. 3.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) buying lemons (d) money from sales
4. 4.Vihaan’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹30 (posters)
   Expense: ₹40 (sugar)
   How much is the loss (in ₹)?
5. 5.Vihaan’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹220 (paper cups)
   Expense: ₹10 (lemons)
   How much is the loss (in ₹)?
6. 6.Vihaan’s income was ₹160 and the profit was ₹130. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
7. 7.Ananya’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹470 (evening sales)
   Expense: ₹100 (paper cups)
   Expense: ₹200 (card paper)
   What is the profit (in ₹)?
8. 8.True or false: “paying the stall fee” is income (money in). (a) True (b) False
9. 9.Saanvi’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹40 (transport)
   Expense: ₹50 (paper cups)
   What is the profit (in ₹)?
10. 10.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
11. 11.Riya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
12. 12.Farhan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹550 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
13. 13.Gurpreet’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
14. 14.True or false: “tutoring fees received” is income (money in). (a) False (b) True
15. 15.Lakshmi’s stall took in ₹50 on Friday, ₹90 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
16. 16.Kavya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
17. 17.True or false: “buying lemons” is income (money in). (a) False (b) True
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.📒 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
20. 20.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
21. 21.Arjun’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹260 (lemons)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
22. 22.Saanvi’s stall took in ₹50 on Friday, ₹400 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying paper cups (d) payment for a cake order
24. 24.Nisha’s income was ₹190 and the profit was ₹170. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
25. 25.True or false: “printing posters” is income (money in). (a) False (b) True
26. 26.📒 Income or expense: payment for a cake order? (a) expense (b) income
27. 27.Ishaan’s stall took in ₹70 on Friday, ₹390 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) money from sales (d) bus fare to the market
29. 29.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
30. 30.Lakshmi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹110 (transport)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
31. 31.True or false: “printing posters” is an expense (money out). (a) True (b) False
32. 32.📒 Income or expense: paying the stall fee? (a) income (b) expense
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) cash from selling plants (d) money from sales
34. 34.Kabir’s income was ₹460 and the profit was ₹300. One expense was ₹60 (lemons). How much was the other expense, for posters (in ₹)?
35. 35.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) paying the stall fee (d) a card order paid
36. 36.Saanvi’s income was ₹480 and the profit was ₹170. One expense was ₹70 (lemons). How much was the other expense, for posters (in ₹)?
37. 37.Dev’s income was ₹500 and the profit was ₹310. One expense was ₹30 (transport). How much was the other expense, for posters (in ₹)?
38. 38.Lakshmi’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹150 (posters)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
39. 39.Dev’s stall took in ₹330 on Friday, ₹140 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) payment for a cake order

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