Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 473 · 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.Dev’s stall took in ₹300 on Friday, ₹300 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “money from sales” is an expense (money out). (a) True (b) False
3. 3.Riya’s record for the day:
   Income: ₹450 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹120 (lemons)
   Expense: ₹170 (paper cups)
   What is the profit (in ₹)?
4. 4.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) a card order paid (d) printing posters
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
6. 6.True or false: “printing posters” is income (money in). (a) False (b) True
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.Arjun’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹40 (lemons)
   Expense: ₹170 (card paper)
   How much is the loss (in ₹)?
9. 9.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
10. 10.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
11. 11.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
12. 12.📒 Income or expense: buying paper cups? (a) expense (b) income
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
14. 14.True or false: “payment for a cake order” is income (money in). (a) False (b) True
15. 15.Rohan’s stall took in ₹160 on Friday, ₹150 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
16. 16.Arjun’s stall took in ₹240 on Friday, ₹180 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: bus fare to the market? (a) expense (b) income
18. 18.📒 Income or expense: paying the stall fee? (a) expense (b) income
19. 19.Arjun’s income was ₹220 and the profit was ₹30. One expense was ₹120 (stall fee). How much was the other expense, for paper cups (in ₹)?
20. 20.Tara’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: a card order paid? (a) expense (b) income
22. 22.Lakshmi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
23. 23.True or false: “paying the stall fee” is income (money in). (a) True (b) False
24. 24.Farhan’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
25. 25.True or false: “buying paper cups” is income (money in). (a) False (b) True
26. 26.True or false: “buying lemons” is income (money in). (a) True (b) False
27. 27.Joseph’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹330 (stall fee)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) payment for a cake order (d) cash from selling plants
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.Dev’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
31. 31.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
32. 32.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) payment for a cake order
33. 33.Arjun’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
34. 34.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) buying lemons (d) money from sales
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) paying the stall fee
36. 36.Diya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
37. 37.Zoya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹120 (transport)
    Expense: ₹130 (paper cups)
    How much is the loss (in ₹)?
38. 38.Farhan’s stall took in ₹130 on Friday, ₹240 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
39. 39.Gurpreet’s income was ₹230 and the profit was ₹210. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
40. 40.Nisha’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹310 (sugar)
    How much is the loss (in ₹)?

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