Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 349 · 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 record for the day:
   Income: ₹70 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹140 (sugar)
   Expense: ₹90 (posters)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying paper cups (d) buying lemons
3. 3.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) a card order paid (d) tutoring fees received
4. 4.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: buying lemons? (a) income (b) expense
6. 6.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) buying lemons (d) printing posters
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.Kabir’s income was ₹190 and the profit was ₹70. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
9. 9.Ananya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹30 (transport)
   Expense: ₹160 (ribbon)
   What is the profit (in ₹)?
10. 10.True or false: “printing posters” is income (money in). (a) True (b) False
11. 11.📒 Income or expense: tutoring fees received? (a) expense (b) income
12. 12.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
13. 13.Vihaan’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: printing posters? (a) income (b) expense
15. 15.True or false: “bus fare to the market” is income (money in). (a) True (b) False
16. 16.True or false: “paying the stall fee” is income (money in). (a) False (b) True
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) a card order paid (d) printing posters
18. 18.Dev’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
19. 19.Ishaan’s income was ₹190 and the profit was ₹130. One expense was ₹30 (card paper). How much was the other expense, for stall fee (in ₹)?
20. 20.Arjun’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
21. 21.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) payment for a cake order (d) tutoring fees received
22. 22.Kavya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
23. 23.Tara’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹290 (posters)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: a card order paid? (a) income (b) expense
25. 25.Aarav’s income was ₹100 and the profit was ₹20. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
26. 26.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
27. 27.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
28. 28.Farhan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
29. 29.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
30. 30.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) buying lemons
31. 31.Saanvi’s income was ₹430 and the profit was ₹80. One expense was ₹250 (ribbon). How much was the other expense, for stall fee (in ₹)?
32. 32.Riya’s income was ₹260 and the profit was ₹120. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
33. 33.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) printing posters (d) payment for a cake order
34. 34.True or false: “money from sales” is an expense (money out). (a) True (b) False
35. 35.Saanvi’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
36. 36.Farhan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
37. 37.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
38. 38.Ananya’s income was ₹280 and the profit was ₹190. One expense was ₹70 (sugar). How much was the other expense, for paper cups (in ₹)?
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) buying lemons

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