Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 445 · 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: bus fare to the market? (a) expense (b) income
2. 2.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) payment for a cake order
3. 3.📒 Income or expense: money from sales? (a) income (b) expense
4. 4.True or false: “tutoring fees received” is income (money in). (a) True (b) False
5. 5.Meera’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹80 (lemons)
   Expense: ₹20 (card paper)
   How much is the loss (in ₹)?
6. 6.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) a card order paid (d) payment for a cake order
7. 7.📒 Income or expense: buying paper cups? (a) expense (b) income
8. 8.Joseph’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹90 (sugar)
   Expense: ₹50 (paper cups)
   What is the profit (in ₹)?
9. 9.Diya’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹50 (ribbon)
   Expense: ₹70 (stall fee)
   What is the profit (in ₹)?
10. 10.Tara’s stall took in ₹370 on Friday, ₹120 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
11. 11.Kavya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹260 (card paper)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
12. 12.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
13. 13.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
14. 14.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) money from sales
15. 15.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
16. 16.📒 Income or expense: paying the stall fee? (a) expense (b) income
17. 17.Kabir’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
19. 19.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
20. 20.Kabir’s income was ₹500 and the profit was ₹90. One expense was ₹100 (ribbon). How much was the other expense, for transport (in ₹)?
21. 21.Aarav’s stall took in ₹130 on Friday, ₹180 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) tutoring fees received (d) a card order paid
23. 23.True or false: “cash from selling plants” is income (money in). (a) False (b) True
24. 24.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
25. 25.Nisha’s income was ₹320 and the profit was ₹210. One expense was ₹100 (lemons). How much was the other expense, for card paper (in ₹)?
26. 26.Tara’s stall took in ₹110 on Friday, ₹80 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) tutoring fees received
28. 28.Riya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹150 (sugar)
    Expense: ₹160 (transport)
    How much is the loss (in ₹)?
29. 29.Farhan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
30. 30.Diya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
31. 31.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) buying lemons
32. 32.Lakshmi’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Lakshmi’s income was ₹430 and the profit was ₹390. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
35. 35.Saanvi’s income was ₹480 and the profit was ₹250. One expense was ₹190 (ribbon). How much was the other expense, for sugar (in ₹)?
36. 36.True or false: “bus fare to the market” is income (money in). (a) True (b) False
37. 37.Farhan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
38. 38.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) cash from selling plants (d) tutoring fees received
39. 39.Ishaan’s stall took in ₹60 on Friday, ₹130 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
40. 40.Kavya’s stall took in ₹300 on Friday, ₹250 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?

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