Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 34 · 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.Rohan’s income was ₹200 and the profit was ₹20. One expense was ₹160 (stall fee). How much was the other expense, for transport (in ₹)?
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) bus fare to the market (d) payment for a cake order
3. 3.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
4. 4.Rohan’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹30 (stall fee)
   Expense: ₹220 (posters)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: printing posters? (a) expense (b) income
6. 6.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) bus fare to the market (d) buying lemons
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) printing posters (d) tutoring fees received
8. 8.📒 Income or expense: cash from selling plants? (a) expense (b) income
9. 9.📒 Income or expense: payment for a cake order? (a) expense (b) income
10. 10.Aarav’s stall took in ₹50 on Friday, ₹400 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) paying the stall fee (d) printing posters
12. 12.📒 Income or expense: tutoring fees received? (a) income (b) expense
13. 13.Saanvi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
14. 14.Lakshmi’s stall took in ₹90 on Friday, ₹200 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “buying lemons” is income (money in). (a) True (b) False
16. 16.Kavya’s income was ₹230 and the profit was ₹20. One expense was ₹70 (sugar). How much was the other expense, for ribbon (in ₹)?
17. 17.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
18. 18.True or false: “cash from selling plants” is income (money in). (a) True (b) False
19. 19.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
20. 20.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) buying lemons
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) bus fare to the market (d) printing posters
22. 22.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
23. 23.Aarav’s stall took in ₹320 on Friday, ₹90 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
24. 24.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
25. 25.True or false: “money from sales” is an expense (money out). (a) False (b) True
26. 26.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) buying lemons (d) paying the stall fee
27. 27.📒 Income or expense: a card order paid? (a) expense (b) income
28. 28.Saanvi’s stall took in ₹140 on Friday, ₹240 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
29. 29.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: buying paper cups? (a) income (b) expense
31. 31.Rohan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
32. 32.True or false: “printing posters” is income (money in). (a) True (b) False
33. 33.Nisha’s income was ₹230 and the profit was ₹50. One expense was ₹120 (stall fee). How much was the other expense, for transport (in ₹)?
34. 34.Zoya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
35. 35.Ishaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
36. 36.Nisha’s stall took in ₹90 on Friday, ₹370 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
37. 37.Nisha’s stall took in ₹220 on Friday, ₹110 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
39. 39.Joseph’s stall took in ₹350 on Friday, ₹260 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) cash from selling plants (d) buying paper cups

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