Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 575 · 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.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying paper cups (d) buying lemons
2. 2.True or false: “payment for a cake order” is income (money in). (a) False (b) True
3. 3.Kabir’s income was ₹320 and the profit was ₹270. One expense was ₹20 (transport). How much was the other expense, for stall fee (in ₹)?
4. 4.Kavya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹50 (transport)
   Expense: ₹60 (card paper)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.Saanvi’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹70 (ribbon)
   Expense: ₹80 (sugar)
   What is the profit (in ₹)?
7. 7.Vihaan’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹180 (paper cups)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
8. 8.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) tutoring fees received (d) cash from selling plants
9. 9.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
10. 10.📒 Income or expense: buying paper cups? (a) income (b) expense
11. 11.True or false: “buying lemons” is income (money in). (a) False (b) True
12. 12.Diya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
13. 13.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying paper cups (d) cash from selling plants
14. 14.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) money from sales (d) buying paper cups
15. 15.📒 Income or expense: payment for a cake order? (a) income (b) expense
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.Tara’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
18. 18.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
19. 19.True or false: “money from sales” is income (money in). (a) False (b) True
20. 20.True or false: “paying the stall fee” is income (money in). (a) False (b) True
21. 21.Zoya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
22. 22.Riya’s stall took in ₹260 on Friday, ₹170 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
23. 23.📒 Income or expense: paying the stall fee? (a) income (b) expense
24. 24.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
25. 25.Riya’s stall took in ₹230 on Friday, ₹190 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
26. 26.Vihaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
27. 27.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
28. 28.Ananya’s stall took in ₹180 on Friday, ₹210 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
29. 29.Farhan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
30. 30.True or false: “money from sales” is an expense (money out). (a) True (b) False
31. 31.Meera’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
32. 32.Aarav’s stall took in ₹280 on Friday, ₹350 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
33. 33.Rohan’s income was ₹230 and the profit was ₹10. One expense was ₹150 (transport). How much was the other expense, for ribbon (in ₹)?
34. 34.Lakshmi’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (posters)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
35. 35.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
36. 36.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) cash from selling plants (d) printing posters
37. 37.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
38. 38.📒 Income or expense: printing posters? (a) income (b) expense
39. 39.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) tutoring fees received
40. 40.Riya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?

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