Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 541 · 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 paper cups” is income (money in). (a) True (b) False
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.Nisha’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹140 (sugar)
   What is the profit (in ₹)?
4. 4.Zoya’s stall took in ₹390 on Friday, ₹200 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
5. 5.Ananya’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹40 (posters)
   Expense: ₹40 (paper cups)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) cash from selling plants (d) money from sales
7. 7.Joseph’s income was ₹170 and the profit was ₹10. One expense was ₹130 (ribbon). How much was the other expense, for card paper (in ₹)?
8. 8.📒 Income or expense: buying paper cups? (a) expense (b) income
9. 9.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
10. 10.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
11. 11.True or false: “bus fare to the market” is income (money in). (a) False (b) True
12. 12.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
13. 13.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying lemons (d) printing posters
14. 14.Gurpreet’s stall took in ₹50 on Friday, ₹310 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
15. 15.Ananya’s income was ₹140 and the profit was ₹80. One expense was ₹30 (paper cups). How much was the other expense, for card paper (in ₹)?
16. 16.Lakshmi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹240 (paper cups)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
17. 17.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
18. 18.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) a card order paid
19. 19.Kavya’s stall took in ₹260 on Friday, ₹340 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “payment for a cake order” is income (money in). (a) False (b) True
21. 21.Lakshmi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
22. 22.Lakshmi’s income was ₹100 and the profit was ₹80. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
23. 23.Aarav’s income was ₹450 and the profit was ₹330. One expense was ₹70 (ribbon). How much was the other expense, for posters (in ₹)?
24. 24.Vihaan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
25. 25.True or false: “a card order paid” is an expense (money out). (a) False (b) True
26. 26.Rohan’s stall took in ₹150 on Friday, ₹360 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
27. 27.Kavya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) cash from selling plants (d) money from sales
29. 29.Tara’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
30. 30.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) bus fare to the market (d) buying lemons
31. 31.📒 Income or expense: buying lemons? (a) expense (b) income
32. 32.True or false: “tutoring fees received” is income (money in). (a) False (b) True
33. 33.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) buying paper cups
34. 34.Vihaan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
36. 36.📒 Income or expense: paying the stall fee? (a) income (b) expense
37. 37.Tara’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
38. 38.Vihaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
39. 39.Diya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
40. 40.Arjun’s income was ₹420 and the profit was ₹350. One expense was ₹20 (lemons). How much was the other expense, for stall fee (in ₹)?

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