Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 594 · 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) bus fare to the market (b) tutoring fees received (c) a card order paid (d) money from sales
2. 2.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
3. 3.True or false: “buying lemons” is income (money in). (a) True (b) False
4. 4.True or false: “paying the stall fee” is income (money in). (a) False (b) True
5. 5.Aarav’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹230 (paper cups)
   Expense: ₹130 (transport)
   How much is the loss (in ₹)?
6. 6.Kavya’s income was ₹200 and the profit was ₹80. One expense was ₹60 (sugar). How much was the other expense, for ribbon (in ₹)?
7. 7.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) printing posters (d) payment for a cake order
8. 8.Diya’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹70 (card paper)
   What is the profit (in ₹)?
9. 9.Ananya’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹140 (sugar)
   Expense: ₹30 (stall fee)
   What is the profit (in ₹)?
10. 10.Ishaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
11. 11.Riya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) tutoring fees received
13. 13.📒 Income or expense: a card order paid? (a) expense (b) income
14. 14.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) money from sales
15. 15.Meera’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) buying paper cups
17. 17.📒 Income or expense: cash from selling plants? (a) income (b) expense
18. 18.Arjun’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹240 (stall fee)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
20. 20.Tara’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) income (b) expense
22. 22.Aarav’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
23. 23.Kabir’s stall took in ₹80 on Friday, ₹130 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “buying paper cups” is income (money in). (a) False (b) True
25. 25.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) tutoring fees received (d) payment for a cake order
26. 26.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
27. 27.Joseph’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
28. 28.Ananya’s stall took in ₹130 on Friday, ₹130 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: payment for a cake order? (a) expense (b) income
30. 30.Arjun’s stall took in ₹400 on Friday, ₹290 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
31. 31.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
32. 32.Farhan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹150 (transport)
    How much is the loss (in ₹)?
33. 33.Kabir’s income was ₹160 and the profit was ₹30. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?
34. 34.📒 Income or expense: printing posters? (a) expense (b) income
35. 35.Rohan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
36. 36.Lakshmi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
37. 37.Nisha’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
38. 38.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) buying paper cups (d) paying the stall fee
39. 39.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
40. 40.True or false: “printing posters” is income (money in). (a) False (b) True

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