Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 553 · 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.📒 Income or expense: payment for a cake order? (a) expense (b) income
2. 2.Ananya’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹110 (paper cups)
   Expense: ₹40 (lemons)
   What is the profit (in ₹)?
3. 3.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
4. 4.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
5. 5.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) a card order paid (d) payment for a cake order
6. 6.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) a card order paid
7. 7.True or false: “a card order paid” is income (money in). (a) True (b) False
8. 8.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
9. 9.Kabir’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹130 (posters)
   Expense: ₹90 (lemons)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) income (b) expense
11. 11.Arjun’s income was ₹180 and the profit was ₹150. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
12. 12.📒 Income or expense: paying the stall fee? (a) expense (b) income
13. 13.Kavya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
14. 14.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
15. 15.Kabir’s stall took in ₹60 on Friday, ₹140 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
16. 16.Ananya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
17. 17.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹290 (lemons)
    How much is the loss (in ₹)?
18. 18.Arjun’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
19. 19.Arjun’s stall took in ₹360 on Friday, ₹350 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
20. 20.Kavya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
22. 22.Lakshmi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) paying the stall fee (d) cash from selling plants
25. 25.True or false: “cash from selling plants” is income (money in). (a) True (b) False
26. 26.True or false: “money from sales” is income (money in). (a) False (b) True
27. 27.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
28. 28.Diya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹170 (card paper)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
29. 29.True or false: “money from sales” is an expense (money out). (a) False (b) True
30. 30.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) buying paper cups (d) bus fare to the market
31. 31.Riya’s income was ₹170 and the profit was ₹80. One expense was ₹20 (card paper). How much was the other expense, for stall fee (in ₹)?
32. 32.📒 Income or expense: buying lemons? (a) income (b) expense
33. 33.Saanvi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
34. 34.True or false: “paying the stall fee” is income (money in). (a) True (b) False
35. 35.Rohan’s income was ₹210 and the profit was ₹150. One expense was ₹50 (card paper). How much was the other expense, for paper cups (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹50 (transport)
    Expense: ₹300 (lemons)
    How much is the loss (in ₹)?
37. 37.Aarav’s income was ₹240 and the profit was ₹140. One expense was ₹90 (posters). How much was the other expense, for ribbon (in ₹)?
38. 38.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
39. 39.True or false: “a card order paid” is an expense (money out). (a) False (b) True
40. 40.Meera’s stall took in ₹390 on Friday, ₹120 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?

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