Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 324 · 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.Tara’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹20 (ribbon)
   Expense: ₹80 (lemons)
   What is the profit (in ₹)?
2. 2.True or false: “buying lemons” is an expense (money out). (a) False (b) True
3. 3.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
4. 4.📒 Income or expense: a card order paid? (a) income (b) expense
5. 5.📒 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
6. 6.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
7. 7.True or false: “bus fare to the market” is income (money in). (a) True (b) False
8. 8.Nisha’s stall took in ₹190 on Friday, ₹210 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.📒 Income or expense: paying the stall fee? (a) expense (b) income
11. 11.📒 Income or expense: buying lemons? (a) income (b) expense
12. 12.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) bus fare to the market (d) a card order paid
13. 13.Ishaan’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
15. 15.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) printing posters (d) cash from selling plants
16. 16.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (posters)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
17. 17.Farhan’s stall took in ₹280 on Friday, ₹310 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: printing posters? (a) expense (b) income
19. 19.📒 Income or expense: payment for a cake order? (a) income (b) expense
20. 20.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
21. 21.Joseph’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
22. 22.Joseph’s stall took in ₹380 on Friday, ₹190 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
23. 23.Diya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹250 (sugar)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: bus fare to the market? (a) expense (b) income
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) a card order paid
26. 26.True or false: “money from sales” is income (money in). (a) False (b) True
27. 27.True or false: “a card order paid” is an expense (money out). (a) True (b) False
28. 28.Gurpreet’s income was ₹240 and the profit was ₹190. One expense was ₹30 (paper cups). How much was the other expense, for lemons (in ₹)?
29. 29.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) buying lemons
30. 30.True or false: “payment for a cake order” is income (money in). (a) True (b) False
31. 31.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) bus fare to the market (d) money from sales
32. 32.Rohan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
33. 33.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
34. 34.📒 Income or expense: money from sales? (a) income (b) expense
35. 35.Aarav’s stall took in ₹110 on Friday, ₹120 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
36. 36.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
37. 37.Saanvi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
38. 38.Meera’s stall took in ₹370 on Friday, ₹140 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
39. 39.Ananya’s stall took in ₹110 on Friday, ₹60 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
40. 40.Ishaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?

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