Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 449 · 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: printing posters? (a) expense (b) income
2. 2.Aarav’s stall took in ₹240 on Friday, ₹370 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
3. 3.True or false: “printing posters” is income (money in). (a) False (b) True
4. 4.📒 Income or expense: buying lemons? (a) expense (b) income
5. 5.Rohan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹40 (lemons)
   Expense: ₹20 (stall fee)
   What is the profit (in ₹)?
6. 6.📒 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
7. 7.Kabir’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹530 (evening sales)
   Expense: ₹200 (lemons)
   Expense: ₹170 (sugar)
   What is the profit (in ₹)?
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) bus fare to the market
9. 9.Joseph’s stall took in ₹220 on Friday, ₹180 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
10. 10.Zoya’s income was ₹450 and the profit was ₹400. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
11. 11.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
12. 12.Riya’s income was ₹300 and the profit was ₹130. One expense was ₹140 (card paper). How much was the other expense, for transport (in ₹)?
13. 13.True or false: “tutoring fees received” is income (money in). (a) True (b) False
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.Dev’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
16. 16.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
17. 17.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.True or false: “money from sales” is an expense (money out). (a) False (b) True
20. 20.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
21. 21.📒 Income or expense: paying the stall fee? (a) income (b) expense
22. 22.Vihaan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
23. 23.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) money from sales
24. 24.📒 Income or expense: tutoring fees received? (a) expense (b) income
25. 25.Diya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
26. 26.True or false: “a card order paid” is income (money in). (a) True (b) False
27. 27.Lakshmi’s stall took in ₹140 on Friday, ₹170 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) printing posters (d) payment for a cake order
30. 30.Kavya’s income was ₹410 and the profit was ₹40. One expense was ₹150 (card paper). How much was the other expense, for transport (in ₹)?
31. 31.Rohan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹320 (paper cups)
    How much is the loss (in ₹)?
32. 32.True or false: “buying lemons” is an expense (money out). (a) False (b) True
33. 33.Kavya’s stall took in ₹180 on Friday, ₹100 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “buying lemons” is income (money in). (a) False (b) True
35. 35.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
36. 36.Dev’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
37. 37.True or false: “buying paper cups” is income (money in). (a) True (b) False
38. 38.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) bus fare to the market (d) paying the stall fee
39. 39.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) payment for a cake order (d) bus fare to the market
40. 40.Joseph’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹290 (stall fee)
    How much is the loss (in ₹)?

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