Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 348 · 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.Riya’s stall took in ₹70 on Friday, ₹50 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
3. 3.Tara’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹110 (card paper)
   Expense: ₹20 (stall fee)
   How much is the loss (in ₹)?
4. 4.Nisha’s income was ₹360 and the profit was ₹320. One expense was ₹20 (stall fee). How much was the other expense, for transport (in ₹)?
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) cash from selling plants
7. 7.Arjun’s stall took in ₹230 on Friday, ₹210 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
9. 9.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
10. 10.Riya’s stall took in ₹270 on Friday, ₹90 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
11. 11.Lakshmi’s income was ₹110 and the profit was ₹10. One expense was ₹40 (transport). How much was the other expense, for stall fee (in ₹)?
12. 12.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: payment for a cake order? (a) income (b) expense
14. 14.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
15. 15.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
16. 16.Rohan’s income was ₹350 and the profit was ₹180. One expense was ₹70 (paper cups). How much was the other expense, for ribbon (in ₹)?
17. 17.True or false: “bus fare to the market” is income (money in). (a) True (b) False
18. 18.True or false: “tutoring fees received” is income (money in). (a) True (b) False
19. 19.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) printing posters
20. 20.Gurpreet’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹180 (ribbon)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
21. 21.True or false: “printing posters” is an expense (money out). (a) True (b) False
22. 22.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) paying the stall fee (d) cash from selling plants
23. 23.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) printing posters (d) buying paper cups
24. 24.Arjun’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) printing posters (d) a card order paid
26. 26.Gurpreet’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
27. 27.Meera’s stall took in ₹250 on Friday, ₹200 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “cash from selling plants” is income (money in). (a) False (b) True
29. 29.Riya’s income was ₹240 and the profit was ₹200. One expense was ₹20 (card paper). How much was the other expense, for sugar (in ₹)?
30. 30.📒 Income or expense: cash from selling plants? (a) expense (b) income
31. 31.True or false: “buying paper cups” is income (money in). (a) True (b) False
32. 32.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
33. 33.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
34. 34.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) bus fare to the market (d) cash from selling plants
35. 35.True or false: “money from sales” is income (money in). (a) False (b) True
36. 36.Kabir’s income was ₹400 and the profit was ₹290. One expense was ₹90 (card paper). How much was the other expense, for transport (in ₹)?
37. 37.📒 Income or expense: paying the stall fee? (a) expense (b) income
38. 38.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
39. 39.Nisha’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
40. 40.Vihaan’s income was ₹270 and the profit was ₹120. One expense was ₹40 (posters). How much was the other expense, for lemons (in ₹)?

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