Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 525 · 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: “paying the stall fee” is income (money in). (a) False (b) True
2. 2.Lakshmi’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹70 (ribbon)
   Expense: ₹30 (stall fee)
   How much is the loss (in ₹)?
3. 3.Meera’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹140 (ribbon)
   Expense: ₹60 (lemons)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: payment for a cake order? (a) income (b) expense
5. 5.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
6. 6.Kavya’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹30 (card paper)
   Expense: ₹90 (posters)
   What is the profit (in ₹)?
7. 7.Lakshmi’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹120 (sugar)
   Expense: ₹210 (paper cups)
   How much is the loss (in ₹)?
8. 8.Meera’s stall took in ₹160 on Friday, ₹340 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
9. 9.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
10. 10.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
11. 11.True or false: “money from sales” is income (money in). (a) True (b) False
12. 12.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: bus fare to the market? (a) expense (b) income
14. 14.📒 Income or expense: buying paper cups? (a) expense (b) income
15. 15.Vihaan’s stall took in ₹250 on Friday, ₹320 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
16. 16.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) tutoring fees received (d) cash from selling plants
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying lemons (d) money from sales
18. 18.Ishaan’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
19. 19.Ananya’s stall took in ₹390 on Friday, ₹120 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
20. 20.Meera’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: tutoring fees received? (a) expense (b) income
22. 22.Joseph’s income was ₹500 and the profit was ₹160. One expense was ₹140 (lemons). How much was the other expense, for card paper (in ₹)?
23. 23.Nisha’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: paying the stall fee? (a) expense (b) income
25. 25.Vihaan’s income was ₹220 and the profit was ₹140. One expense was ₹60 (card paper). How much was the other expense, for stall fee (in ₹)?
26. 26.Kavya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
27. 27.Ananya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
28. 28.True or false: “money from sales” is an expense (money out). (a) True (b) False
29. 29.Tara’s stall took in ₹100 on Friday, ₹150 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: money from sales? (a) expense (b) income
31. 31.Farhan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) tutoring fees received (d) payment for a cake order
33. 33.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
34. 34.Zoya’s stall took in ₹130 on Friday, ₹310 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
35. 35.Kavya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: cash from selling plants? (a) income (b) expense
37. 37.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) a card order paid (d) payment for a cake order
38. 38.Aarav’s stall took in ₹330 on Friday, ₹310 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: a card order paid? (a) expense (b) income
40. 40.Joseph’s stall took in ₹160 on Friday, ₹380 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?

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