Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 532 · 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: “buying lemons” is income (money in). (a) False (b) True
2. 2.Zoya’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹10 (sugar)
   Expense: ₹180 (stall fee)
   How much is the loss (in ₹)?
3. 3.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) money from sales (d) cash from selling plants
4. 4.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: cash from selling plants? (a) income (b) expense
6. 6.Dev’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹160 (transport)
   Expense: ₹120 (sugar)
   What is the profit (in ₹)?
7. 7.Ananya’s income was ₹150 and the profit was ₹60. One expense was ₹60 (card paper). How much was the other expense, for ribbon (in ₹)?
8. 8.📒 Income or expense: buying lemons? (a) income (b) expense
9. 9.Meera’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹40 (paper cups)
   How much is the loss (in ₹)?
10. 10.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
11. 11.Arjun’s stall took in ₹100 on Friday, ₹150 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) paying the stall fee (d) printing posters
13. 13.Riya’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
14. 14.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹210 (ribbon)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
15. 15.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
16. 16.Zoya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
17. 17.Tara’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
18. 18.Rohan’s income was ₹170 and the profit was ₹50. One expense was ₹40 (stall fee). How much was the other expense, for paper cups (in ₹)?
19. 19.📒 Income or expense: money from sales? (a) expense (b) income
20. 20.Tara’s stall took in ₹290 on Friday, ₹180 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “bus fare to the market” is income (money in). (a) True (b) False
22. 22.📒 Income or expense: bus fare to the market? (a) expense (b) income
23. 23.📒 Income or expense: paying the stall fee? (a) income (b) expense
24. 24.True or false: “cash from selling plants” is income (money in). (a) True (b) False
25. 25.📒 Income or expense: a card order paid? (a) income (b) expense
26. 26.Kabir’s income was ₹260 and the profit was ₹110. One expense was ₹60 (sugar). How much was the other expense, for posters (in ₹)?
27. 27.Vihaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹210 (card paper)
    How much is the loss (in ₹)?
28. 28.Dev’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹250 (posters)
    How much is the loss (in ₹)?
29. 29.Aarav’s stall took in ₹370 on Friday, ₹120 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
30. 30.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
31. 31.Diya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹230 (lemons)
    How much is the loss (in ₹)?
32. 32.Rohan’s stall took in ₹270 on Friday, ₹390 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
33. 33.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
34. 34.True or false: “money from sales” is an expense (money out). (a) False (b) True
35. 35.Tara’s income was ₹110 and the profit was ₹10. One expense was ₹30 (card paper). How much was the other expense, for transport (in ₹)?
36. 36.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) cash from selling plants (d) tutoring fees received
37. 37.True or false: “printing posters” is income (money in). (a) True (b) False
38. 38.Vihaan’s stall took in ₹150 on Friday, ₹170 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
39. 39.Farhan’s stall took in ₹100 on Friday, ₹330 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
40. 40.Riya’s stall took in ₹350 on Friday, ₹50 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?

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