Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 390 · 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.📒 Income or expense: paying the stall fee? (a) income (b) expense
2. 2.Riya’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹130 (posters)
   Expense: ₹180 (lemons)
   What is the profit (in ₹)?
3. 3.Diya’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹220 (posters)
   Expense: ₹60 (lemons)
   How much is the loss (in ₹)?
4. 4.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
5. 5.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) payment for a cake order (d) buying lemons
6. 6.Ishaan’s stall took in ₹100 on Friday, ₹260 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) money from sales
8. 8.True or false: “buying lemons” is income (money in). (a) True (b) False
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) bus fare to the market (d) tutoring fees received
10. 10.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
11. 11.True or false: “cash from selling plants” is income (money in). (a) False (b) True
12. 12.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
13. 13.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
14. 14.Ananya’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “buying lemons” is an expense (money out). (a) False (b) True
16. 16.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
17. 17.Rohan’s stall took in ₹100 on Friday, ₹360 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
18. 18.Zoya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
19. 19.True or false: “printing posters” is income (money in). (a) False (b) True
20. 20.Diya’s stall took in ₹240 on Friday, ₹200 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
21. 21.📒 Income or expense: buying lemons? (a) income (b) expense
22. 22.Diya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
23. 23.Kabir’s stall took in ₹80 on Friday, ₹270 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
24. 24.Lakshmi’s income was ₹150 and the profit was ₹30. One expense was ₹90 (transport). How much was the other expense, for posters (in ₹)?
25. 25.Vihaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
26. 26.Saanvi’s income was ₹200 and the profit was ₹70. One expense was ₹60 (transport). How much was the other expense, for sugar (in ₹)?
27. 27.Kabir’s stall took in ₹230 on Friday, ₹180 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
28. 28.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
29. 29.Lakshmi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹150 (paper cups)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
30. 30.📒 Income or expense: money from sales? (a) expense (b) income
31. 31.Dev’s income was ₹150 and the profit was ₹10. One expense was ₹60 (card paper). How much was the other expense, for stall fee (in ₹)?
32. 32.Riya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹220 (ribbon)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: tutoring fees received? (a) expense (b) income
34. 34.True or false: “a card order paid” is income (money in). (a) False (b) True
35. 35.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) tutoring fees received (d) printing posters
36. 36.📒 Income or expense: a card order paid? (a) income (b) expense
37. 37.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) a card order paid
38. 38.True or false: “money from sales” is an expense (money out). (a) True (b) False
39. 39.Zoya’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: printing posters? (a) income (b) expense

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