Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 441 · 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: tutoring fees received? (a) expense (b) income
2. 2.Tara’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹20 (ribbon)
   Expense: ₹70 (lemons)
   How much is the loss (in ₹)?
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) money from sales (d) tutoring fees received
4. 4.Diya’s stall took in ₹330 on Friday, ₹320 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
6. 6.Meera’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹70 (card paper)
   Expense: ₹90 (paper cups)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: buying paper cups? (a) expense (b) income
8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
9. 9.True or false: “money from sales” is an expense (money out). (a) False (b) True
10. 10.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
11. 11.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) payment for a cake order (d) tutoring fees received
12. 12.📒 Income or expense: money from sales? (a) income (b) expense
13. 13.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
14. 14.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
15. 15.Zoya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
16. 16.True or false: “buying lemons” is an expense (money out). (a) False (b) True
17. 17.Arjun’s income was ₹480 and the profit was ₹50. One expense was ₹320 (lemons). How much was the other expense, for sugar (in ₹)?
18. 18.Farhan’s stall took in ₹140 on Friday, ₹70 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) buying paper cups (d) bus fare to the market
20. 20.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying paper cups (d) buying lemons
21. 21.Saanvi’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) money from sales (d) payment for a cake order
23. 23.Lakshmi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
24. 24.Ananya’s record for the day:
    Income: ₹490 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
25. 25.True or false: “buying paper cups” is income (money in). (a) False (b) True
26. 26.Zoya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: paying the stall fee? (a) income (b) expense
28. 28.Farhan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: payment for a cake order? (a) income (b) expense
30. 30.📒 Income or expense: bus fare to the market? (a) income (b) expense
31. 31.Zoya’s income was ₹140 and the profit was ₹90. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?
32. 32.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
33. 33.Saanvi’s stall took in ₹280 on Friday, ₹180 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
34. 34.Kabir’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (transport)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
35. 35.True or false: “a card order paid” is an expense (money out). (a) True (b) False
36. 36.📒 Income or expense: cash from selling plants? (a) income (b) expense
37. 37.Ishaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹70 (posters)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
38. 38.True or false: “buying lemons” is income (money in). (a) True (b) False
39. 39.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
40. 40.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order

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