Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 583 · 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 an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) printing posters (d) money from sales
2. 2.Diya’s income was ₹210 and the profit was ₹180. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
3. 3.Lakshmi’s income was ₹480 and the profit was ₹160. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
4. 4.📒 Income or expense: paying the stall fee? (a) income (b) expense
5. 5.Nisha’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹70 (sugar)
   Expense: ₹60 (lemons)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
8. 8.Farhan’s stall took in ₹60 on Friday, ₹120 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
9. 9.Rohan’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹250 (paper cups)
   Expense: ₹50 (sugar)
   How much is the loss (in ₹)?
10. 10.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) cash from selling plants (d) paying the stall fee
11. 11.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) bus fare to the market (d) a card order paid
12. 12.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹180 (lemons)
    How much is the loss (in ₹)?
13. 13.Joseph’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: cash from selling plants? (a) expense (b) income
15. 15.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
16. 16.Diya’s stall took in ₹350 on Friday, ₹230 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “paying the stall fee” is income (money in). (a) True (b) False
18. 18.📒 Income or expense: buying paper cups? (a) expense (b) income
19. 19.Farhan’s income was ₹150 and the profit was ₹30. One expense was ₹50 (paper cups). How much was the other expense, for stall fee (in ₹)?
20. 20.Tara’s stall took in ₹120 on Friday, ₹90 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) payment for a cake order
22. 22.Arjun’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.Tara’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
25. 25.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
26. 26.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
27. 27.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) money from sales (d) buying lemons
28. 28.Dev’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
29. 29.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
30. 30.Nisha’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
31. 31.Ananya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
32. 32.Lakshmi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
33. 33.Riya’s stall took in ₹230 on Friday, ₹70 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “buying lemons” is an expense (money out). (a) False (b) True
35. 35.True or false: “a card order paid” is an expense (money out). (a) False (b) True
36. 36.Dev’s stall took in ₹260 on Friday, ₹190 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
37. 37.Nisha’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹150 (sugar)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
38. 38.Kavya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹40 (posters)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
39. 39.True or false: “payment for a cake order” is income (money in). (a) True (b) False
40. 40.Kavya’s stall took in ₹310 on Friday, ₹130 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?

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