Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 402 · 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: buying paper cups? (a) income (b) expense
2. 2.True or false: “buying paper cups” is income (money in). (a) False (b) True
3. 3.Diya’s income was ₹200 and the profit was ₹20. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?
4. 4.📒 Income or expense: payment for a cake order? (a) income (b) expense
5. 5.Kabir’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹60 (paper cups)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
6. 6.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
7. 7.Diya’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹400 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
8. 8.Meera’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹40 (paper cups)
   Expense: ₹280 (card paper)
   How much is the loss (in ₹)?
9. 9.Joseph’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹170 (transport)
   Expense: ₹180 (posters)
   What is the profit (in ₹)?
10. 10.Vihaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
11. 11.Zoya’s income was ₹120 and the profit was ₹70. One expense was ₹20 (transport). How much was the other expense, for sugar (in ₹)?
12. 12.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) printing posters (d) money from sales
13. 13.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying lemons (d) money from sales
14. 14.Tara’s income was ₹410 and the profit was ₹310. One expense was ₹70 (lemons). How much was the other expense, for paper cups (in ₹)?
15. 15.Saanvi’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: printing posters? (a) expense (b) income
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) payment for a cake order (d) buying lemons
18. 18.Ishaan’s income was ₹320 and the profit was ₹30. One expense was ₹160 (card paper). How much was the other expense, for transport (in ₹)?
19. 19.Farhan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (transport)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
20. 20.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
21. 21.Ishaan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
22. 22.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
23. 23.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) tutoring fees received
24. 24.True or false: “buying lemons” is income (money in). (a) True (b) False
25. 25.📒 Income or expense: paying the stall fee? (a) income (b) expense
26. 26.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) cash from selling plants (d) paying the stall fee
27. 27.Ishaan’s income was ₹350 and the profit was ₹260. One expense was ₹30 (ribbon). How much was the other expense, for paper cups (in ₹)?
28. 28.True or false: “tutoring fees received” is income (money in). (a) True (b) False
29. 29.📒 Income or expense: cash from selling plants? (a) expense (b) income
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
31. 31.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) a card order paid (d) paying the stall fee
32. 32.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) bus fare to the market (d) a card order paid
33. 33.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) money from sales
34. 34.Tara’s income was ₹500 and the profit was ₹140. One expense was ₹90 (paper cups). How much was the other expense, for ribbon (in ₹)?
35. 35.Lakshmi’s stall took in ₹50 on Friday, ₹70 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
36. 36.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
37. 37.Meera’s income was ₹230 and the profit was ₹40. One expense was ₹40 (card paper). How much was the other expense, for stall fee (in ₹)?
38. 38.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹540 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
39. 39.Saanvi’s stall took in ₹310 on Friday, ₹390 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “a card order paid” is an expense (money out). (a) True (b) False

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