Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 429 · 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: money from sales? (a) income (b) expense
2. 2.True or false: “money from sales” is income (money in). (a) False (b) True
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) bus fare to the market
4. 4.Zoya’s income was ₹430 and the profit was ₹290. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
5. 5.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) printing posters (d) tutoring fees received
6. 6.📒 Income or expense: buying lemons? (a) income (b) expense
7. 7.📒 Income or expense: a card order paid? (a) income (b) expense
8. 8.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
9. 9.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
10. 10.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (transport)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
11. 11.Riya’s stall took in ₹230 on Friday, ₹170 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
12. 12.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
13. 13.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
14. 14.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
15. 15.Aarav’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
16. 16.Tara’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) paying the stall fee (d) money from sales
18. 18.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
19. 19.Lakshmi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
20. 20.Diya’s stall took in ₹390 on Friday, ₹370 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
21. 21.Rohan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: payment for a cake order? (a) income (b) expense
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
24. 24.Arjun’s stall took in ₹320 on Friday, ₹90 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “paying the stall fee” is income (money in). (a) False (b) True
26. 26.Which of these is income (money in)? (a) printing posters (b) money from sales (c) paying the stall fee (d) buying lemons
27. 27.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) paying the stall fee (d) buying paper cups
28. 28.True or false: “money from sales” is an expense (money out). (a) True (b) False
29. 29.True or false: “buying paper cups” is income (money in). (a) False (b) True
30. 30.📒 Income or expense: tutoring fees received? (a) expense (b) income
31. 31.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) cash from selling plants (d) printing posters
32. 32.📒 Income or expense: bus fare to the market? (a) expense (b) income
33. 33.True or false: “printing posters” is an expense (money out). (a) False (b) True
34. 34.Meera’s income was ₹340 and the profit was ₹180. One expense was ₹80 (lemons). How much was the other expense, for stall fee (in ₹)?
35. 35.True or false: “tutoring fees received” is income (money in). (a) True (b) False
36. 36.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
37. 37.Meera’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹210 (lemons)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
38. 38.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
39. 39.Vihaan’s stall took in ₹50 on Friday, ₹300 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
40. 40.Arjun’s stall took in ₹300 on Friday, ₹320 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?

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