Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 318 · 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: money from sales? (a) income (b) expense
2. 2.Aarav’s income was ₹260 and the profit was ₹10. One expense was ₹140 (paper cups). How much was the other expense, for sugar (in ₹)?
3. 3.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) bus fare to the market (d) buying paper cups
4. 4.True or false: “money from sales” is income (money in). (a) True (b) False
5. 5.Gurpreet’s stall took in ₹240 on Friday, ₹150 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
6. 6.Ishaan’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹100 (card paper)
   Expense: ₹140 (posters)
   What is the profit (in ₹)?
7. 7.Ananya’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
9. 9.Kabir’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹130 (stall fee)
   Expense: ₹70 (transport)
   How much is the loss (in ₹)?
10. 10.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying lemons (d) paying the stall fee
11. 11.Lakshmi’s income was ₹180 and the profit was ₹120. One expense was ₹40 (lemons). How much was the other expense, for paper cups (in ₹)?
12. 12.Arjun’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹230 (card paper)
    How much is the loss (in ₹)?
13. 13.Dev’s stall took in ₹90 on Friday, ₹180 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) money from sales (d) buying paper cups
15. 15.Gurpreet’s stall took in ₹240 on Friday, ₹110 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
16. 16.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) tutoring fees received
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.True or false: “paying the stall fee” is income (money in). (a) True (b) False
19. 19.Nisha’s stall took in ₹330 on Friday, ₹50 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
20. 20.Gurpreet’s stall took in ₹70 on Friday, ₹210 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
21. 21.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
22. 22.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying paper cups (d) buying lemons
23. 23.Farhan’s income was ₹460 and the profit was ₹20. One expense was ₹130 (stall fee). How much was the other expense, for sugar (in ₹)?
24. 24.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
25. 25.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) a card order paid (d) money from sales
26. 26.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
27. 27.True or false: “a card order paid” is an expense (money out). (a) False (b) True
28. 28.True or false: “money from sales” is an expense (money out). (a) True (b) False
29. 29.Aarav’s stall took in ₹330 on Friday, ₹140 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
30. 30.Zoya’s stall took in ₹130 on Friday, ₹70 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
32. 32.Nisha’s stall took in ₹170 on Friday, ₹50 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
34. 34.Meera’s stall took in ₹280 on Friday, ₹230 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
35. 35.Aarav’s income was ₹350 and the profit was ₹210. One expense was ₹80 (stall fee). How much was the other expense, for transport (in ₹)?
36. 36.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) bus fare to the market (d) money from sales
37. 37.Kabir’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: buying lemons? (a) expense (b) income
39. 39.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying lemons (d) tutoring fees received
40. 40.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?

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