Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 466 · 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) income (b) expense
2. 2.Kabir’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹240 (paper cups)
   Expense: ₹70 (ribbon)
   How much is the loss (in ₹)?
3. 3.Lakshmi’s income was ₹400 and the profit was ₹270. One expense was ₹120 (transport). How much was the other expense, for stall fee (in ₹)?
4. 4.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying lemons (d) money from sales
5. 5.True or false: “bus fare to the market” is income (money in). (a) True (b) False
6. 6.Farhan’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹220 (lemons)
   Expense: ₹70 (paper cups)
   How much is the loss (in ₹)?
7. 7.Tara’s stall took in ₹320 on Friday, ₹390 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
8. 8.Rohan’s stall took in ₹340 on Friday, ₹220 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) payment for a cake order (d) a card order paid
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
11. 11.Ananya’s stall took in ₹250 on Friday, ₹210 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
12. 12.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) money from sales (d) a card order paid
15. 15.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
16. 16.Meera’s income was ₹100 and the profit was ₹20. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
17. 17.Ishaan’s stall took in ₹110 on Friday, ₹370 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
19. 19.📒 Income or expense: bus fare to the market? (a) expense (b) income
20. 20.True or false: “cash from selling plants” is income (money in). (a) True (b) False
21. 21.Meera’s stall took in ₹70 on Friday, ₹320 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “payment for a cake order” is income (money in). (a) False (b) True
23. 23.Tara’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
24. 24.Riya’s stall took in ₹360 on Friday, ₹290 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
25. 25.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
26. 26.📒 Income or expense: tutoring fees received? (a) expense (b) income
27. 27.Aarav’s income was ₹480 and the profit was ₹100. One expense was ₹350 (lemons). How much was the other expense, for transport (in ₹)?
28. 28.Arjun’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) paying the stall fee (d) buying lemons
30. 30.📒 Income or expense: payment for a cake order? (a) income (b) expense
31. 31.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: buying paper cups? (a) income (b) expense
33. 33.True or false: “buying lemons” is income (money in). (a) True (b) False
34. 34.Kavya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (transport)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
35. 35.Lakshmi’s income was ₹460 and the profit was ₹50. One expense was ₹190 (transport). How much was the other expense, for paper cups (in ₹)?
36. 36.Tara’s stall took in ₹350 on Friday, ₹150 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
37. 37.Kabir’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
38. 38.Saanvi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
39. 39.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
40. 40.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying lemons (d) bus fare to the market

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