Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 56 · 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: bus fare to the market? (a) income (b) expense
2. 2.Farhan’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹160 (transport)
   Expense: ₹30 (lemons)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.📒 Income or expense: money from sales? (a) expense (b) income
5. 5.Kavya’s stall took in ₹120 on Friday, ₹110 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
6. 6.Kavya’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹70 (lemons)
   Expense: ₹60 (posters)
   What is the profit (in ₹)?
7. 7.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
8. 8.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
9. 9.Ananya’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹70 (lemons)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
10. 10.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) paying the stall fee (d) buying lemons
11. 11.Dev’s stall took in ₹130 on Friday, ₹190 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) bus fare to the market
13. 13.Vihaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
14. 14.Dev’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
15. 15.True or false: “paying the stall fee” is income (money in). (a) True (b) False
16. 16.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
17. 17.Rohan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
18. 18.Lakshmi’s stall took in ₹250 on Friday, ₹80 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “buying lemons” is income (money in). (a) False (b) True
20. 20.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) cash from selling plants (d) payment for a cake order
21. 21.📒 Income or expense: paying the stall fee? (a) expense (b) income
22. 22.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) printing posters (d) paying the stall fee
23. 23.📒 Income or expense: tutoring fees received? (a) expense (b) income
24. 24.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) printing posters (d) cash from selling plants
26. 26.Tara’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
27. 27.True or false: “money from sales” is income (money in). (a) False (b) True
28. 28.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
30. 30.Saanvi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: a card order paid? (a) expense (b) income
32. 32.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) paying the stall fee (d) bus fare to the market
33. 33.True or false: “printing posters” is an expense (money out). (a) False (b) True
34. 34.Meera’s stall took in ₹350 on Friday, ₹140 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
35. 35.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
36. 36.True or false: “cash from selling plants” is income (money in). (a) False (b) True
37. 37.Kavya’s income was ₹480 and the profit was ₹130. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
38. 38.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) tutoring fees received (d) paying the stall fee
39. 39.Farhan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) money from sales

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