Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 453 · 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.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) payment for a cake order (d) buying lemons
2. 2.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
3. 3.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
4. 4.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
5. 5.Vihaan’s income was ₹420 and the profit was ₹400. One expense was ₹10 (paper cups). How much was the other expense, for lemons (in ₹)?
6. 6.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
7. 7.True or false: “tutoring fees received” is income (money in). (a) False (b) True
8. 8.Rohan’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹50 (lemons)
   Expense: ₹150 (paper cups)
   How much is the loss (in ₹)?
9. 9.Aarav’s income was ₹290 and the profit was ₹120. One expense was ₹100 (sugar). How much was the other expense, for stall fee (in ₹)?
10. 10.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
11. 11.Tara’s stall took in ₹190 on Friday, ₹150 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
12. 12.Tara’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
13. 13.Meera’s stall took in ₹360 on Friday, ₹260 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) printing posters (d) tutoring fees received
15. 15.📒 Income or expense: a card order paid? (a) expense (b) income
16. 16.True or false: “a card order paid” is an expense (money out). (a) True (b) False
17. 17.📒 Income or expense: tutoring fees received? (a) income (b) expense
18. 18.Nisha’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
19. 19.Tara’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: buying paper cups? (a) income (b) expense
21. 21.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
22. 22.Arjun’s income was ₹310 and the profit was ₹140. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
23. 23.📒 Income or expense: payment for a cake order? (a) expense (b) income
24. 24.Aarav’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹250 (stall fee)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
25. 25.Nisha’s income was ₹500 and the profit was ₹30. One expense was ₹50 (paper cups). How much was the other expense, for card paper (in ₹)?
26. 26.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
27. 27.True or false: “paying the stall fee” is income (money in). (a) True (b) False
28. 28.Tara’s income was ₹360 and the profit was ₹20. One expense was ₹150 (lemons). How much was the other expense, for stall fee (in ₹)?
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
30. 30.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying paper cups (d) cash from selling plants
31. 31.Gurpreet’s stall took in ₹80 on Friday, ₹280 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
32. 32.Meera’s income was ₹250 and the profit was ₹170. One expense was ₹70 (ribbon). How much was the other expense, for paper cups (in ₹)?
33. 33.True or false: “buying paper cups” is income (money in). (a) False (b) True
34. 34.Meera’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: bus fare to the market? (a) expense (b) income
36. 36.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
37. 37.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) a card order paid (d) money from sales
38. 38.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹300 (stall fee)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
39. 39.Vihaan’s stall took in ₹100 on Friday, ₹160 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) cash from selling plants (d) payment for a cake order

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