Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 408 · 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.True or false: “money from sales” is an expense (money out). (a) False (b) True
2. 2.Nisha’s income was ₹480 and the profit was ₹410. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
3. 3.📒 Income or expense: bus fare to the market? (a) expense (b) income
4. 4.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
5. 5.Vihaan’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹200 (posters)
   Expense: ₹100 (ribbon)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) printing posters
7. 7.Arjun’s stall took in ₹280 on Friday, ₹310 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: paying the stall fee? (a) income (b) expense
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) paying the stall fee (d) payment for a cake order
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
12. 12.📒 Income or expense: a card order paid? (a) expense (b) income
13. 13.Kavya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
14. 14.Aarav’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
15. 15.Zoya’s income was ₹410 and the profit was ₹40. One expense was ₹40 (ribbon). How much was the other expense, for posters (in ₹)?
16. 16.Meera’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹260 (lemons)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
17. 17.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying lemons (d) bus fare to the market
18. 18.True or false: “a card order paid” is income (money in). (a) False (b) True
19. 19.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) bus fare to the market (d) paying the stall fee
20. 20.Ananya’s income was ₹470 and the profit was ₹170. One expense was ₹240 (card paper). How much was the other expense, for sugar (in ₹)?
21. 21.Kabir’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
22. 22.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
23. 23.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
24. 24.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) payment for a cake order (d) buying lemons
25. 25.Saanvi’s stall took in ₹150 on Friday, ₹120 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
26. 26.📒 Income or expense: buying paper cups? (a) income (b) expense
27. 27.Tara’s income was ₹220 and the profit was ₹150. One expense was ₹50 (ribbon). How much was the other expense, for lemons (in ₹)?
28. 28.True or false: “cash from selling plants” is income (money in). (a) True (b) False
29. 29.Gurpreet’s income was ₹110 and the profit was ₹10. One expense was ₹80 (transport). How much was the other expense, for lemons (in ₹)?
30. 30.📒 Income or expense: printing posters? (a) income (b) expense
31. 31.Saanvi’s income was ₹150 and the profit was ₹70. One expense was ₹50 (transport). How much was the other expense, for lemons (in ₹)?
32. 32.Rohan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹320 (card paper)
    How much is the loss (in ₹)?
33. 33.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
34. 34.True or false: “bus fare to the market” is income (money in). (a) False (b) True
35. 35.Rohan’s income was ₹210 and the profit was ₹30. One expense was ₹90 (transport). How much was the other expense, for paper cups (in ₹)?
36. 36.Arjun’s income was ₹410 and the profit was ₹110. One expense was ₹180 (card paper). How much was the other expense, for sugar (in ₹)?
37. 37.Gurpreet’s stall took in ₹170 on Friday, ₹230 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “printing posters” is income (money in). (a) False (b) True
39. 39.Kabir’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹260 (stall fee)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
40. 40.Saanvi’s income was ₹460 and the profit was ₹420. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?

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