Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 322 · 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.Zoya’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹50 (sugar)
   Expense: ₹170 (transport)
   How much is the loss (in ₹)?
2. 2.Dev’s stall took in ₹70 on Friday, ₹390 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
3. 3.Which of these is income (money in)? (a) money from sales (b) printing posters (c) paying the stall fee (d) buying lemons
4. 4.True or false: “tutoring fees received” is income (money in). (a) True (b) False
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) printing posters (d) buying lemons
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) tutoring fees received (d) a card order paid
8. 8.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
9. 9.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
10. 10.Kavya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹240 (stall fee)
    How much is the loss (in ₹)?
11. 11.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) buying lemons (d) paying the stall fee
12. 12.Diya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
13. 13.Rohan’s income was ₹490 and the profit was ₹290. One expense was ₹80 (ribbon). How much was the other expense, for lemons (in ₹)?
14. 14.True or false: “a card order paid” is an expense (money out). (a) True (b) False
15. 15.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
16. 16.Rohan’s stall took in ₹330 on Friday, ₹50 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) tutoring fees received (d) printing posters
18. 18.True or false: “printing posters” is an expense (money out). (a) True (b) False
19. 19.True or false: “buying paper cups” is income (money in). (a) False (b) True
20. 20.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) buying lemons
21. 21.📒 Income or expense: bus fare to the market? (a) income (b) expense
22. 22.📒 Income or expense: buying lemons? (a) income (b) expense
23. 23.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
24. 24.Kabir’s stall took in ₹340 on Friday, ₹60 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
25. 25.Vihaan’s stall took in ₹60 on Friday, ₹310 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
26. 26.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
27. 27.Riya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
28. 28.Aarav’s income was ₹500 and the profit was ₹280. One expense was ₹20 (posters). How much was the other expense, for paper cups (in ₹)?
29. 29.True or false: “a card order paid” is income (money in). (a) False (b) True
30. 30.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (posters)
    Expense: ₹200 (card paper)
    How much is the loss (in ₹)?
31. 31.📒 Income or expense: printing posters? (a) income (b) expense
32. 32.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) tutoring fees received
33. 33.Ishaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹280 (lemons)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
34. 34.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
35. 35.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
36. 36.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
37. 37.📒 Income or expense: cash from selling plants? (a) income (b) expense
38. 38.Vihaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
39. 39.True or false: “cash from selling plants” is income (money in). (a) False (b) True
40. 40.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying lemons (d) printing posters

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