Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 543 · 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: “money from sales” is an expense (money out). (a) True (b) False
2. 2.Meera’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹440 (evening sales)
   Expense: ₹180 (card paper)
   Expense: ₹60 (lemons)
   What is the profit (in ₹)?
3. 3.Aarav’s income was ₹160 and the profit was ₹120. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
4. 4.📒 Income or expense: buying paper cups? (a) expense (b) income
5. 5.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
6. 6.📒 Income or expense: a card order paid? (a) expense (b) income
7. 7.📒 Income or expense: buying lemons? (a) expense (b) income
8. 8.Ananya’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹130 (ribbon)
   Expense: ₹50 (lemons)
   How much is the loss (in ₹)?
9. 9.Gurpreet’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹40 (ribbon)
   Expense: ₹130 (posters)
   What is the profit (in ₹)?
10. 10.Meera’s income was ₹190 and the profit was ₹170. One expense was ₹10 (sugar). How much was the other expense, for transport (in ₹)?
11. 11.True or false: “cash from selling plants” is income (money in). (a) True (b) False
12. 12.📒 Income or expense: payment for a cake order? (a) expense (b) income
13. 13.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
14. 14.Arjun’s stall took in ₹340 on Friday, ₹220 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: tutoring fees received? (a) income (b) expense
16. 16.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
17. 17.Nisha’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
18. 18.Tara’s stall took in ₹240 on Friday, ₹270 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) cash from selling plants
20. 20.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
21. 21.Rohan’s stall took in ₹210 on Friday, ₹360 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
22. 22.Vihaan’s income was ₹290 and the profit was ₹160. One expense was ₹50 (stall fee). How much was the other expense, for ribbon (in ₹)?
23. 23.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
24. 24.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹250 (card paper)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
25. 25.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: paying the stall fee? (a) income (b) expense
27. 27.True or false: “tutoring fees received” is income (money in). (a) False (b) True
28. 28.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) buying paper cups (d) printing posters
29. 29.📒 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
30. 30.Saanvi’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
31. 31.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
32. 32.Ishaan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
33. 33.True or false: “bus fare to the market” is income (money in). (a) True (b) False
34. 34.Gurpreet’s stall took in ₹370 on Friday, ₹110 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
36. 36.Nisha’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
37. 37.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
38. 38.True or false: “buying lemons” is an expense (money out). (a) True (b) False
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
40. 40.Lakshmi’s income was ₹330 and the profit was ₹150. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?

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