Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 455 · 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: “printing posters” is an expense (money out). (a) True (b) False
2. 2.Joseph’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹160 (transport)
   Expense: ₹30 (lemons)
   How much is the loss (in ₹)?
3. 3.Ananya’s stall took in ₹140 on Friday, ₹290 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
4. 4.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
5. 5.Ishaan’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹220 (paper cups)
   Expense: ₹40 (posters)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: paying the stall fee? (a) expense (b) income
7. 7.True or false: “paying the stall fee” is income (money in). (a) False (b) True
8. 8.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
9. 9.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
11. 11.Farhan’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
12. 12.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
13. 13.True or false: “payment for a cake order” is income (money in). (a) True (b) False
14. 14.Zoya’s income was ₹340 and the profit was ₹200. One expense was ₹110 (paper cups). How much was the other expense, for posters (in ₹)?
15. 15.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.Tara’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) cash from selling plants
19. 19.Aarav’s income was ₹470 and the profit was ₹400. One expense was ₹40 (posters). How much was the other expense, for paper cups (in ₹)?
20. 20.True or false: “buying paper cups” is income (money in). (a) True (b) False
21. 21.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
22. 22.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
23. 23.📒 Income or expense: buying paper cups? (a) income (b) expense
24. 24.Zoya’s stall took in ₹250 on Friday, ₹100 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
26. 26.Farhan’s income was ₹500 and the profit was ₹180. One expense was ₹160 (ribbon). How much was the other expense, for sugar (in ₹)?
27. 27.Aarav’s income was ₹240 and the profit was ₹150. One expense was ₹60 (posters). How much was the other expense, for card paper (in ₹)?
28. 28.Ananya’s stall took in ₹160 on Friday, ₹60 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
29. 29.Arjun’s income was ₹100 and the profit was ₹20. One expense was ₹10 (posters). How much was the other expense, for transport (in ₹)?
30. 30.Kabir’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
31. 31.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) a card order paid (d) bus fare to the market
32. 32.📒 Income or expense: cash from selling plants? (a) income (b) expense
33. 33.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
34. 34.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) a card order paid (d) tutoring fees received
35. 35.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
36. 36.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) buying lemons (d) paying the stall fee
37. 37.Vihaan’s income was ₹170 and the profit was ₹140. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
38. 38.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) money from sales
39. 39.Joseph’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹240 (sugar)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
40. 40.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) paying the stall fee (d) payment for a cake order

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