Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 415 · 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: “printing posters” is income (money in). (a) False (b) True
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.Saanvi’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹160 (paper cups)
   What is the profit (in ₹)?
4. 4.Lakshmi’s income was ₹420 and the profit was ₹10. One expense was ₹380 (transport). How much was the other expense, for lemons (in ₹)?
5. 5.Gurpreet’s income was ₹200 and the profit was ₹30. One expense was ₹110 (transport). How much was the other expense, for posters (in ₹)?
6. 6.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
7. 7.True or false: “cash from selling plants” is income (money in). (a) False (b) True
8. 8.True or false: “buying lemons” is an expense (money out). (a) False (b) True
9. 9.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
10. 10.📒 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
11. 11.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.Rohan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
14. 14.Zoya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹240 (sugar)
    How much is the loss (in ₹)?
15. 15.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
16. 16.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) buying lemons (d) bus fare to the market
17. 17.Farhan’s income was ₹410 and the profit was ₹50. One expense was ₹350 (transport). How much was the other expense, for sugar (in ₹)?
18. 18.Farhan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
19. 19.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) money from sales (d) cash from selling plants
20. 20.📒 Income or expense: paying the stall fee? (a) expense (b) income
21. 21.Joseph’s income was ₹460 and the profit was ₹240. One expense was ₹50 (paper cups). How much was the other expense, for lemons (in ₹)?
22. 22.Gurpreet’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
23. 23.Ananya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
24. 24.Tara’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
25. 25.Saanvi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
26. 26.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) a card order paid (d) payment for a cake order
28. 28.Kabir’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: printing posters? (a) expense (b) income
30. 30.Diya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: buying lemons? (a) income (b) expense
32. 32.Diya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
33. 33.True or false: “paying the stall fee” is income (money in). (a) False (b) True
34. 34.Kabir’s stall took in ₹150 on Friday, ₹150 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
35. 35.Kabir’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
36. 36.True or false: “money from sales” is income (money in). (a) True (b) False
37. 37.True or false: “bus fare to the market” is income (money in). (a) True (b) False
38. 38.Kabir’s income was ₹150 and the profit was ₹10. One expense was ₹30 (ribbon). How much was the other expense, for sugar (in ₹)?
39. 39.Kavya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
40. 40.Gurpreet’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?

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