Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 538 · 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.Arjun’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹140 (transport)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) printing posters (b) money from sales (c) paying the stall fee (d) buying lemons
3. 3.Lakshmi’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹80 (sugar)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: money from sales? (a) income (b) expense
5. 5.True or false: “money from sales” is income (money in). (a) False (b) True
6. 6.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) tutoring fees received (d) payment for a cake order
8. 8.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) money from sales (d) tutoring fees received
9. 9.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
10. 10.Arjun’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
11. 11.Saanvi’s stall took in ₹370 on Friday, ₹50 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) cash from selling plants (d) buying paper cups
13. 13.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
14. 14.True or false: “tutoring fees received” is income (money in). (a) False (b) True
15. 15.📒 Income or expense: paying the stall fee? (a) expense (b) income
16. 16.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: cash from selling plants? (a) expense (b) income
18. 18.True or false: “bus fare to the market” is income (money in). (a) True (b) False
19. 19.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) bus fare to the market (d) payment for a cake order
20. 20.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
21. 21.Zoya’s stall took in ₹220 on Friday, ₹340 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “payment for a cake order” is income (money in). (a) True (b) False
23. 23.📒 Income or expense: a card order paid? (a) expense (b) income
24. 24.Aarav’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying lemons (d) money from sales
26. 26.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
27. 27.Lakshmi’s income was ₹220 and the profit was ₹160. One expense was ₹20 (lemons). How much was the other expense, for ribbon (in ₹)?
28. 28.📒 Income or expense: payment for a cake order? (a) expense (b) income
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
30. 30.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
31. 31.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹240 (card paper)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
32. 32.Gurpreet’s income was ₹140 and the profit was ₹80. One expense was ₹50 (lemons). How much was the other expense, for paper cups (in ₹)?
33. 33.Arjun’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s income was ₹120 and the profit was ₹10. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
35. 35.True or false: “printing posters” is an expense (money out). (a) False (b) True
36. 36.Vihaan’s income was ₹180 and the profit was ₹110. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
37. 37.Vihaan’s stall took in ₹390 on Friday, ₹320 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: buying paper cups? (a) expense (b) income
39. 39.True or false: “paying the stall fee” is income (money in). (a) True (b) False
40. 40.Nisha’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹260 (posters)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?

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