Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 342 · 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.Aarav’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹10 (stall fee)
   Expense: ₹70 (paper cups)
   How much is the loss (in ₹)?
2. 2.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
3. 3.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying lemons (d) buying paper cups
4. 4.Tara’s stall took in ₹390 on Friday, ₹210 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: buying paper cups? (a) expense (b) income
6. 6.Vihaan’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹50 (paper cups)
   Expense: ₹40 (posters)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: money from sales? (a) income (b) expense
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) buying lemons (d) cash from selling plants
9. 9.Zoya’s stall took in ₹380 on Friday, ₹300 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “a card order paid” is income (money in). (a) False (b) True
11. 11.Diya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
12. 12.Tara’s stall took in ₹310 on Friday, ₹140 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “money from sales” is income (money in). (a) True (b) False
14. 14.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) a card order paid (d) cash from selling plants
15. 15.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) bus fare to the market (d) printing posters
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
20. 20.True or false: “cash from selling plants” is income (money in). (a) True (b) False
21. 21.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) bus fare to the market (d) tutoring fees received
22. 22.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) money from sales
23. 23.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
24. 24.📒 Income or expense: printing posters? (a) income (b) expense
25. 25.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
26. 26.Gurpreet’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
27. 27.True or false: “buying lemons” is an expense (money out). (a) True (b) False
28. 28.Riya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
29. 29.Dev’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
30. 30.Saanvi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
31. 31.Kavya’s stall took in ₹150 on Friday, ₹90 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “buying paper cups” is income (money in). (a) True (b) False
33. 33.Riya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
34. 34.Farhan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) bus fare to the market
36. 36.📒 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
37. 37.Lakshmi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: paying the stall fee? (a) expense (b) income
39. 39.📒 Income or expense: payment for a cake order? (a) expense (b) income
40. 40.Kabir’s income was ₹440 and the profit was ₹80. One expense was ₹40 (card paper). How much was the other expense, for ribbon (in ₹)?

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