Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 570 · 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) expense (b) income
2. 2.Dev’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹230 (lemons)
   How much is the loss (in ₹)?
3. 3.Diya’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹210 (lemons)
   Expense: ₹20 (transport)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
7. 7.Riya’s stall took in ₹110 on Friday, ₹150 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying lemons (d) cash from selling plants
9. 9.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) bus fare to the market (d) money from sales
10. 10.📒 Income or expense: buying lemons? (a) income (b) expense
11. 11.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
12. 12.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
13. 13.Lakshmi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
14. 14.True or false: “printing posters” is an expense (money out). (a) False (b) True
15. 15.📒 Income or expense: tutoring fees received? (a) expense (b) income
16. 16.Diya’s stall took in ₹200 on Friday, ₹170 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
17. 17.Gurpreet’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹230 (posters)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) printing posters (d) a card order paid
20. 20.Saanvi’s stall took in ₹400 on Friday, ₹200 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
21. 21.Meera’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹270 (paper cups)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
22. 22.Aarav’s income was ₹410 and the profit was ₹380. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
23. 23.Saanvi’s stall took in ₹90 on Friday, ₹70 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
24. 24.Aarav’s income was ₹330 and the profit was ₹260. One expense was ₹60 (card paper). How much was the other expense, for posters (in ₹)?
25. 25.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹210 (transport)
    How much is the loss (in ₹)?
26. 26.Rohan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
27. 27.Meera’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: a card order paid? (a) income (b) expense
29. 29.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
30. 30.📒 Income or expense: cash from selling plants? (a) expense (b) income
31. 31.Ishaan’s income was ₹340 and the profit was ₹120. One expense was ₹130 (posters). How much was the other expense, for paper cups (in ₹)?
32. 32.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) payment for a cake order (d) paying the stall fee
33. 33.Meera’s income was ₹380 and the profit was ₹220. One expense was ₹40 (paper cups). How much was the other expense, for posters (in ₹)?
34. 34.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) a card order paid (d) cash from selling plants
35. 35.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
36. 36.Kabir’s income was ₹270 and the profit was ₹170. One expense was ₹50 (stall fee). How much was the other expense, for lemons (in ₹)?
37. 37.📒 Income or expense: printing posters? (a) expense (b) income
38. 38.Arjun’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
39. 39.Vihaan’s income was ₹450 and the profit was ₹220. One expense was ₹60 (ribbon). How much was the other expense, for lemons (in ₹)?
40. 40.📒 Income or expense: payment for a cake order? (a) income (b) expense

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