Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 313 · 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: “cash from selling plants” is income (money in). (a) False (b) True
2. 2.Saanvi’s stall took in ₹290 on Friday, ₹350 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
3. 3.Diya’s income was ₹310 and the profit was ₹220. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
4. 4.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
5. 5.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) printing posters (d) bus fare to the market
6. 6.📒 Income or expense: paying the stall fee? (a) expense (b) income
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying paper cups (d) cash from selling plants
8. 8.Rohan’s stall took in ₹360 on Friday, ₹130 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: bus fare to the market? (a) income (b) expense
10. 10.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
12. 12.True or false: “payment for a cake order” is income (money in). (a) False (b) True
13. 13.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
14. 14.True or false: “printing posters” is income (money in). (a) True (b) False
15. 15.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) bus fare to the market
16. 16.Arjun’s income was ₹210 and the profit was ₹170. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
17. 17.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
18. 18.Rohan’s income was ₹260 and the profit was ₹120. One expense was ₹20 (paper cups). How much was the other expense, for posters (in ₹)?
19. 19.📒 Income or expense: money from sales? (a) expense (b) income
20. 20.Nisha’s stall took in ₹150 on Friday, ₹130 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
21. 21.Tara’s income was ₹150 and the profit was ₹20. One expense was ₹100 (ribbon). How much was the other expense, for sugar (in ₹)?
22. 22.Kabir’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
23. 23.True or false: “money from sales” is income (money in). (a) True (b) False
24. 24.Rohan’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
25. 25.Diya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹240 (lemons)
    How much is the loss (in ₹)?
26. 26.Aarav’s income was ₹340 and the profit was ₹30. One expense was ₹100 (card paper). How much was the other expense, for posters (in ₹)?
27. 27.Kabir’s stall took in ₹330 on Friday, ₹110 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
28. 28.Vihaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹160 (stall fee)
    How much is the loss (in ₹)?
29. 29.True or false: “a card order paid” is an expense (money out). (a) False (b) True
30. 30.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
31. 31.Kabir’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) a card order paid (d) cash from selling plants
33. 33.Meera’s stall took in ₹350 on Friday, ₹160 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
34. 34.Meera’s stall took in ₹370 on Friday, ₹380 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
35. 35.Vihaan’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
36. 36.True or false: “money from sales” is an expense (money out). (a) False (b) True
37. 37.Aarav’s income was ₹160 and the profit was ₹40. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
38. 38.📒 Income or expense: buying paper cups? (a) expense (b) income
39. 39.Rohan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
40. 40.Kabir’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?

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