Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 458 · 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: money from sales? (a) expense (b) income
2. 2.Saanvi’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹140 (lemons)
   Expense: ₹80 (transport)
   How much is the loss (in ₹)?
3. 3.Farhan’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹180 (posters)
   Expense: ₹50 (ribbon)
   How much is the loss (in ₹)?
4. 4.Kabir’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹100 (card paper)
   Expense: ₹60 (sugar)
   How much is the loss (in ₹)?
5. 5.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) payment for a cake order (d) buying lemons
6. 6.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
7. 7.Vihaan’s record for the day:
   Income: ₹400 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹150 (stall fee)
   Expense: ₹20 (transport)
   What is the profit (in ₹)?
8. 8.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) paying the stall fee
9. 9.Kavya’s stall took in ₹170 on Friday, ₹190 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
10. 10.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
11. 11.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) bus fare to the market
12. 12.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
13. 13.True or false: “tutoring fees received” is income (money in). (a) False (b) True
14. 14.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
15. 15.📒 Income or expense: a card order paid? (a) expense (b) income
16. 16.📒 Income or expense: payment for a cake order? (a) income (b) expense
17. 17.Joseph’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
18. 18.Dev’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (transport)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
19. 19.Joseph’s stall took in ₹280 on Friday, ₹380 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
20. 20.Riya’s stall took in ₹160 on Friday, ₹390 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
21. 21.Dev’s income was ₹100 and the profit was ₹30. One expense was ₹50 (card paper). How much was the other expense, for transport (in ₹)?
22. 22.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
23. 23.Tara’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
24. 24.Arjun’s income was ₹140 and the profit was ₹10. One expense was ₹100 (paper cups). How much was the other expense, for transport (in ₹)?
25. 25.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
26. 26.True or false: “money from sales” is an expense (money out). (a) True (b) False
27. 27.📒 Income or expense: cash from selling plants? (a) expense (b) income
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
29. 29.📒 Income or expense: buying lemons? (a) expense (b) income
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) paying the stall fee (d) cash from selling plants
31. 31.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) tutoring fees received (d) a card order paid
32. 32.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
33. 33.True or false: “printing posters” is income (money in). (a) False (b) True
34. 34.📒 Income or expense: bus fare to the market? (a) expense (b) income
35. 35.Ananya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
36. 36.Lakshmi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
37. 37.Vihaan’s income was ₹420 and the profit was ₹210. One expense was ₹60 (lemons). How much was the other expense, for ribbon (in ₹)?
38. 38.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) cash from selling plants (d) tutoring fees received
39. 39.Kabir’s stall took in ₹300 on Friday, ₹90 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True

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