Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 540 · 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.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying lemons (d) printing posters
2. 2.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) buying lemons
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
4. 4.📒 Income or expense: tutoring fees received? (a) expense (b) income
5. 5.True or false: “buying paper cups” is income (money in). (a) False (b) True
6. 6.Rohan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹100 (stall fee)
   Expense: ₹30 (card paper)
   What is the profit (in ₹)?
7. 7.Aarav’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹110 (stall fee)
   Expense: ₹60 (posters)
   How much is the loss (in ₹)?
8. 8.Rohan’s stall took in ₹390 on Friday, ₹220 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.Riya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
11. 11.Farhan’s stall took in ₹180 on Friday, ₹90 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
12. 12.Nisha’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
13. 13.Kabir’s income was ₹280 and the profit was ₹210. One expense was ₹50 (transport). How much was the other expense, for lemons (in ₹)?
14. 14.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
15. 15.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) money from sales (d) cash from selling plants
16. 16.📒 Income or expense: paying the stall fee? (a) income (b) expense
17. 17.True or false: “printing posters” is income (money in). (a) False (b) True
18. 18.True or false: “payment for a cake order” is income (money in). (a) False (b) True
19. 19.Rohan’s stall took in ₹270 on Friday, ₹240 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
20. 20.Gurpreet’s income was ₹180 and the profit was ₹130. One expense was ₹20 (posters). How much was the other expense, for lemons (in ₹)?
21. 21.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
22. 22.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
23. 23.Lakshmi’s income was ₹320 and the profit was ₹10. One expense was ₹250 (stall fee). How much was the other expense, for sugar (in ₹)?
24. 24.Zoya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
25. 25.📒 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
26. 26.📒 Income or expense: buying lemons? (a) expense (b) income
27. 27.Lakshmi’s income was ₹230 and the profit was ₹70. One expense was ₹60 (paper cups). How much was the other expense, for stall fee (in ₹)?
28. 28.Meera’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹280 (ribbon)
    How much is the loss (in ₹)?
29. 29.Tara’s stall took in ₹80 on Friday, ₹350 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
30. 30.Arjun’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
31. 31.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) buying paper cups
32. 32.Meera’s stall took in ₹320 on Friday, ₹240 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “paying the stall fee” is income (money in). (a) True (b) False
34. 34.Rohan’s stall took in ₹180 on Friday, ₹200 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
35. 35.Rohan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
36. 36.Ishaan’s stall took in ₹290 on Friday, ₹80 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
37. 37.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying lemons (d) buying paper cups
39. 39.Meera’s income was ₹320 and the profit was ₹120. One expense was ₹90 (paper cups). How much was the other expense, for sugar (in ₹)?
40. 40.Nisha’s income was ₹460 and the profit was ₹300. One expense was ₹90 (transport). How much was the other expense, for posters (in ₹)?

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