Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 365 · 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.Kabir’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹400 (evening sales)
   Expense: ₹110 (paper cups)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) a card order paid
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) tutoring fees received
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
5. 5.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) paying the stall fee (d) buying paper cups
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) payment for a cake order (d) bus fare to the market
7. 7.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) a card order paid (d) cash from selling plants
8. 8.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
9. 9.📒 Income or expense: a card order paid? (a) expense (b) income
10. 10.True or false: “a card order paid” is an expense (money out). (a) True (b) False
11. 11.📒 Income or expense: paying the stall fee? (a) income (b) expense
12. 12.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
13. 13.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
14. 14.Gurpreet’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
15. 15.True or false: “money from sales” is an expense (money out). (a) True (b) False
16. 16.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹580 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
17. 17.True or false: “payment for a cake order” is income (money in). (a) False (b) True
18. 18.Saanvi’s stall took in ₹320 on Friday, ₹100 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) bus fare to the market
20. 20.📒 Income or expense: tutoring fees received? (a) expense (b) income
21. 21.Ishaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
22. 22.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) money from sales (d) buying lemons
23. 23.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
24. 24.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) cash from selling plants
25. 25.Nisha’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (transport)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
26. 26.Ananya’s stall took in ₹190 on Friday, ₹230 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
27. 27.Dev’s income was ₹110 and the profit was ₹40. One expense was ₹10 (posters). How much was the other expense, for transport (in ₹)?
28. 28.Aarav’s stall took in ₹200 on Friday, ₹230 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: buying lemons? (a) expense (b) income
30. 30.Riya’s income was ₹200 and the profit was ₹140. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
31. 31.📒 Income or expense: payment for a cake order? (a) income (b) expense
32. 32.Dev’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹120 (stall fee)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Kavya’s stall took in ₹110 on Friday, ₹340 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: bus fare to the market? (a) expense (b) income
36. 36.Ishaan’s stall took in ₹70 on Friday, ₹140 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) paying the stall fee
38. 38.True or false: “money from sales” is income (money in). (a) False (b) True
39. 39.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
40. 40.Farhan’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?

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