Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 46 · 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: “bus fare to the market” is income (money in). (a) False (b) True
2. 2.True or false: “buying lemons” is income (money in). (a) True (b) False
3. 3.📒 Income or expense: a card order paid? (a) expense (b) income
4. 4.Kabir’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹20 (paper cups)
   Expense: ₹140 (transport)
   How much is the loss (in ₹)?
5. 5.Vihaan’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹130 (posters)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
6. 6.Nisha’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹220 (stall fee)
   Expense: ₹40 (sugar)
   How much is the loss (in ₹)?
7. 7.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
8. 8.True or false: “a card order paid” is an expense (money out). (a) False (b) True
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.Kavya’s stall took in ₹260 on Friday, ₹180 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
11. 11.Vihaan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) printing posters (d) bus fare to the market
13. 13.True or false: “tutoring fees received” is income (money in). (a) False (b) True
14. 14.Joseph’s stall took in ₹350 on Friday, ₹300 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
15. 15.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
16. 16.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) bus fare to the market
17. 17.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.Saanvi’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹290 (paper cups)
    How much is the loss (in ₹)?
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
21. 21.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) buying lemons
22. 22.Kavya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: cash from selling plants? (a) expense (b) income
24. 24.Nisha’s stall took in ₹310 on Friday, ₹120 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
25. 25.Aarav’s stall took in ₹230 on Friday, ₹160 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
26. 26.Kavya’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
27. 27.Ishaan’s stall took in ₹50 on Friday, ₹310 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: payment for a cake order? (a) income (b) expense
29. 29.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) cash from selling plants (d) buying paper cups
30. 30.📒 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
31. 31.Kabir’s stall took in ₹320 on Friday, ₹360 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
32. 32.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹120 (posters)
    Expense: ₹200 (paper cups)
    How much is the loss (in ₹)?
33. 33.True or false: “money from sales” is income (money in). (a) True (b) False
34. 34.True or false: “paying the stall fee” is income (money in). (a) True (b) False
35. 35.Zoya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
36. 36.Kabir’s income was ₹320 and the profit was ₹250. One expense was ₹50 (stall fee). How much was the other expense, for ribbon (in ₹)?
37. 37.Aarav’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
38. 38.Dev’s stall took in ₹180 on Friday, ₹300 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
39. 39.Ishaan’s income was ₹430 and the profit was ₹40. One expense was ₹150 (posters). How much was the other expense, for ribbon (in ₹)?
40. 40.Meera’s stall took in ₹250 on Friday, ₹170 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?

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