Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 394 · 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.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) bus fare to the market (d) buying lemons
2. 2.Aarav’s income was ₹120 and the profit was ₹60. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
3. 3.Diya’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹180 (sugar)
   What is the profit (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
5. 5.📒 Income or expense: a card order paid? (a) expense (b) income
6. 6.Zoya’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹100 (ribbon)
   Expense: ₹60 (lemons)
   How much is the loss (in ₹)?
7. 7.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
8. 8.Vihaan’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹110 (posters)
   What is the profit (in ₹)?
9. 9.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
10. 10.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹500 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) a card order paid (d) buying lemons
12. 12.Farhan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
14. 14.True or false: “a card order paid” is income (money in). (a) False (b) True
15. 15.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
16. 16.Joseph’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹230 (lemons)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
17. 17.Ishaan’s income was ₹100 and the profit was ₹30. One expense was ₹30 (paper cups). How much was the other expense, for card paper (in ₹)?
18. 18.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
19. 19.Vihaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹260 (lemons)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
20. 20.Vihaan’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
21. 21.True or false: “money from sales” is an expense (money out). (a) False (b) True
22. 22.📒 Income or expense: cash from selling plants? (a) expense (b) income
23. 23.Diya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
24. 24.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
25. 25.True or false: “buying lemons” is income (money in). (a) True (b) False
26. 26.Kabir’s income was ₹140 and the profit was ₹70. One expense was ₹30 (lemons). How much was the other expense, for paper cups (in ₹)?
27. 27.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
28. 28.Nisha’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.Saanvi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹140 (posters)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
31. 31.True or false: “tutoring fees received” is income (money in). (a) True (b) False
32. 32.Kavya’s stall took in ₹50 on Friday, ₹270 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: bus fare to the market? (a) income (b) expense
34. 34.Ananya’s income was ₹300 and the profit was ₹280. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) payment for a cake order
36. 36.Diya’s stall took in ₹70 on Friday, ₹210 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
37. 37.Ananya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
38. 38.Saanvi’s income was ₹360 and the profit was ₹120. One expense was ₹120 (lemons). How much was the other expense, for paper cups (in ₹)?
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying lemons (d) cash from selling plants
40. 40.Nisha’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?

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