Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 311 · 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.Meera’s income was ₹150 and the profit was ₹130. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
2. 2.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) cash from selling plants (d) paying the stall fee
3. 3.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying paper cups (d) bus fare to the market
4. 4.📒 Income or expense: a card order paid? (a) expense (b) income
5. 5.Dev’s income was ₹460 and the profit was ₹130. One expense was ₹270 (paper cups). How much was the other expense, for stall fee (in ₹)?
6. 6.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) a card order paid (d) paying the stall fee
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.True or false: “buying paper cups” is income (money in). (a) False (b) True
9. 9.True or false: “paying the stall fee” is income (money in). (a) False (b) True
10. 10.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) printing posters
11. 11.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
12. 12.Tara’s income was ₹240 and the profit was ₹50. One expense was ₹100 (card paper). How much was the other expense, for transport (in ₹)?
13. 13.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
14. 14.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
15. 15.Farhan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹320 (transport)
    How much is the loss (in ₹)?
16. 16.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
17. 17.Riya’s income was ₹170 and the profit was ₹110. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
18. 18.📒 Income or expense: paying the stall fee? (a) expense (b) income
19. 19.Tara’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
20. 20.Tara’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) buying lemons (d) printing posters
22. 22.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
23. 23.📒 Income or expense: bus fare to the market? (a) income (b) expense
24. 24.Arjun’s income was ₹200 and the profit was ₹150. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
25. 25.Kabir’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
26. 26.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
27. 27.Tara’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
28. 28.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
29. 29.Diya’s stall took in ₹240 on Friday, ₹170 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: tutoring fees received? (a) income (b) expense
31. 31.📒 Income or expense: buying lemons? (a) expense (b) income
32. 32.Kavya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹290 (sugar)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
33. 33.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) buying lemons (d) paying the stall fee
34. 34.Zoya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
35. 35.True or false: “buying lemons” is an expense (money out). (a) False (b) True
36. 36.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
37. 37.Vihaan’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
38. 38.True or false: “printing posters” is an expense (money out). (a) True (b) False
39. 39.📒 Income or expense: money from sales? (a) expense (b) income
40. 40.Rohan’s stall took in ₹240 on Friday, ₹370 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?

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