Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 430 · 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: “cash from selling plants” is an expense (money out). (a) True (b) False
2. 2.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) paying the stall fee (d) buying lemons
3. 3.Ishaan’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹100 (stall fee)
   Expense: ₹140 (posters)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: cash from selling plants? (a) income (b) expense
5. 5.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
6. 6.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) payment for a cake order (d) paying the stall fee
7. 7.Kabir’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹100 (ribbon)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: tutoring fees received? (a) income (b) expense
9. 9.Vihaan’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹150 (card paper)
   Expense: ₹210 (stall fee)
   How much is the loss (in ₹)?
10. 10.True or false: “buying lemons” is an expense (money out). (a) True (b) False
11. 11.Vihaan’s income was ₹140 and the profit was ₹120. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
12. 12.True or false: “cash from selling plants” is income (money in). (a) True (b) False
13. 13.True or false: “bus fare to the market” is income (money in). (a) False (b) True
14. 14.Kabir’s income was ₹210 and the profit was ₹110. One expense was ₹50 (transport). How much was the other expense, for paper cups (in ₹)?
15. 15.True or false: “buying paper cups” is income (money in). (a) True (b) False
16. 16.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
17. 17.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) bus fare to the market (d) a card order paid
18. 18.📒 Income or expense: payment for a cake order? (a) expense (b) income
19. 19.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
20. 20.Vihaan’s income was ₹280 and the profit was ₹170. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
21. 21.Saanvi’s stall took in ₹310 on Friday, ₹250 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
22. 22.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
23. 23.Diya’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
24. 24.Nisha’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
25. 25.True or false: “buying lemons” is income (money in). (a) True (b) False
26. 26.Rohan’s stall took in ₹260 on Friday, ₹250 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
27. 27.Saanvi’s income was ₹210 and the profit was ₹40. One expense was ₹140 (stall fee). How much was the other expense, for sugar (in ₹)?
28. 28.Meera’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
29. 29.Ananya’s stall took in ₹80 on Friday, ₹170 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “payment for a cake order” is income (money in). (a) True (b) False
31. 31.Kavya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
32. 32.Dev’s income was ₹290 and the profit was ₹260. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
33. 33.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) payment for a cake order (d) money from sales
34. 34.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
35. 35.Zoya’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
36. 36.Ananya’s stall took in ₹120 on Friday, ₹170 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
38. 38.Vihaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹220 (stall fee)
    How much is the loss (in ₹)?
39. 39.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) payment for a cake order (d) cash from selling plants
40. 40.Diya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?

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