Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 355 · 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.Farhan’s income was ₹310 and the profit was ₹170. One expense was ₹40 (stall fee). How much was the other expense, for sugar (in ₹)?
2. 2.True or false: “tutoring fees received” is income (money in). (a) False (b) True
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
4. 4.Nisha’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹30 (stall fee)
   Expense: ₹140 (card paper)
   What is the profit (in ₹)?
5. 5.True or false: “buying lemons” is an expense (money out). (a) True (b) False
6. 6.Dev’s stall took in ₹310 on Friday, ₹50 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
7. 7.Lakshmi’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹50 (lemons)
   Expense: ₹70 (sugar)
   How much is the loss (in ₹)?
8. 8.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) tutoring fees received
9. 9.Vihaan’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹170 (stall fee)
   Expense: ₹190 (lemons)
   What is the profit (in ₹)?
10. 10.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
11. 11.📒 Income or expense: cash from selling plants? (a) expense (b) income
12. 12.True or false: “buying lemons” is income (money in). (a) True (b) False
13. 13.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) a card order paid
14. 14.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) payment for a cake order (d) bus fare to the market
15. 15.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
16. 16.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
17. 17.Lakshmi’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
18. 18.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
19. 19.📒 Income or expense: a card order paid? (a) income (b) expense
20. 20.📒 Income or expense: buying lemons? (a) expense (b) income
21. 21.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) buying lemons (d) bus fare to the market
22. 22.Vihaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹550 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
23. 23.True or false: “buying paper cups” is income (money in). (a) True (b) False
24. 24.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
25. 25.Aarav’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹210 (sugar)
    How much is the loss (in ₹)?
26. 26.Tara’s income was ₹310 and the profit was ₹160. One expense was ₹140 (posters). How much was the other expense, for paper cups (in ₹)?
27. 27.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) printing posters (d) bus fare to the market
28. 28.Zoya’s income was ₹350 and the profit was ₹110. One expense was ₹200 (card paper). How much was the other expense, for sugar (in ₹)?
29. 29.📒 Income or expense: paying the stall fee? (a) income (b) expense
30. 30.Diya’s stall took in ₹190 on Friday, ₹250 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: tutoring fees received? (a) expense (b) income
32. 32.Zoya’s income was ₹460 and the profit was ₹110. One expense was ₹240 (lemons). How much was the other expense, for paper cups (in ₹)?
33. 33.Diya’s stall took in ₹140 on Friday, ₹240 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
34. 34.Ananya’s income was ₹190 and the profit was ₹50. One expense was ₹70 (lemons). How much was the other expense, for paper cups (in ₹)?
35. 35.Lakshmi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹230 (lemons)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
36. 36.Diya’s income was ₹440 and the profit was ₹280. One expense was ₹140 (paper cups). How much was the other expense, for ribbon (in ₹)?
37. 37.📒 Income or expense: payment for a cake order? (a) expense (b) income
38. 38.📒 Income or expense: buying paper cups? (a) expense (b) income
39. 39.Nisha’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹310 (card paper)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
40. 40.True or false: “bus fare to the market” is income (money in). (a) True (b) False

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