Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 588 · 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: money from sales? (a) expense (b) income
2. 2.Vihaan’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹160 (ribbon)
   Expense: ₹70 (sugar)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: buying paper cups? (a) income (b) expense
4. 4.📒 Income or expense: buying lemons? (a) income (b) expense
5. 5.Riya’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹20 (paper cups)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
6. 6.True or false: “paying the stall fee” is income (money in). (a) True (b) False
7. 7.📒 Income or expense: printing posters? (a) expense (b) income
8. 8.Aarav’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹30 (card paper)
   Expense: ₹100 (ribbon)
   How much is the loss (in ₹)?
9. 9.Arjun’s income was ₹330 and the profit was ₹20. One expense was ₹160 (card paper). How much was the other expense, for paper cups (in ₹)?
10. 10.Saanvi’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹150 (transport)
    Expense: ₹150 (card paper)
    How much is the loss (in ₹)?
11. 11.True or false: “a card order paid” is an expense (money out). (a) True (b) False
12. 12.True or false: “printing posters” is an expense (money out). (a) False (b) True
13. 13.Arjun’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: payment for a cake order? (a) expense (b) income
15. 15.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) printing posters
16. 16.Diya’s income was ₹100 and the profit was ₹20. One expense was ₹40 (stall fee). How much was the other expense, for card paper (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.Kavya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹220 (sugar)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
19. 19.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
20. 20.Tara’s stall took in ₹50 on Friday, ₹130 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
21. 21.Kavya’s stall took in ₹70 on Friday, ₹400 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) cash from selling plants (d) tutoring fees received
23. 23.📒 Income or expense: a card order paid? (a) expense (b) income
24. 24.Ishaan’s stall took in ₹310 on Friday, ₹250 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
25. 25.Ananya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
26. 26.True or false: “buying paper cups” is income (money in). (a) True (b) False
27. 27.Meera’s stall took in ₹250 on Friday, ₹90 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying paper cups (d) buying lemons
29. 29.Joseph’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
30. 30.Rohan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
31. 31.Aarav’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
32. 32.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
33. 33.Kavya’s stall took in ₹290 on Friday, ₹320 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) tutoring fees received (d) a card order paid
35. 35.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) money from sales (d) buying paper cups
36. 36.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
37. 37.Ishaan’s stall took in ₹250 on Friday, ₹100 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “buying lemons” is an expense (money out). (a) True (b) False
39. 39.Vihaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹70 (posters)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
40. 40.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) cash from selling plants (d) paying the stall fee

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