Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 597 · 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.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
2. 2.True or false: “money from sales” is an expense (money out). (a) True (b) False
3. 3.Kavya’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹100 (transport)
   What is the profit (in ₹)?
4. 4.Riya’s income was ₹370 and the profit was ₹50. One expense was ₹220 (paper cups). How much was the other expense, for sugar (in ₹)?
5. 5.📒 Income or expense: payment for a cake order? (a) income (b) expense
6. 6.True or false: “bus fare to the market” is income (money in). (a) False (b) True
7. 7.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
8. 8.Ananya’s record for the day:
   Income: ₹400 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹90 (sugar)
   Expense: ₹120 (paper cups)
   What is the profit (in ₹)?
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) buying lemons (d) payment for a cake order
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.📒 Income or expense: a card order paid? (a) income (b) expense
12. 12.Kabir’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
13. 13.Meera’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: printing posters? (a) income (b) expense
15. 15.True or false: “printing posters” is an expense (money out). (a) True (b) False
16. 16.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) tutoring fees received
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) cash from selling plants
18. 18.True or false: “tutoring fees received” is income (money in). (a) False (b) True
19. 19.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying lemons (d) money from sales
20. 20.Kavya’s stall took in ₹200 on Friday, ₹90 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “cash from selling plants” is income (money in). (a) True (b) False
22. 22.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
23. 23.True or false: “buying lemons” is an expense (money out). (a) True (b) False
24. 24.True or false: “a card order paid” is an expense (money out). (a) True (b) False
25. 25.Joseph’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
26. 26.Nisha’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
27. 27.True or false: “payment for a cake order” is income (money in). (a) False (b) True
28. 28.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) printing posters (d) bus fare to the market
30. 30.Zoya’s income was ₹120 and the profit was ₹80. One expense was ₹20 (ribbon). How much was the other expense, for sugar (in ₹)?
31. 31.Arjun’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
32. 32.Aarav’s income was ₹370 and the profit was ₹300. One expense was ₹20 (paper cups). How much was the other expense, for lemons (in ₹)?
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
34. 34.Kabir’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: money from sales? (a) expense (b) income
36. 36.Ananya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
37. 37.Rohan’s income was ₹380 and the profit was ₹250. One expense was ₹70 (lemons). How much was the other expense, for stall fee (in ₹)?
38. 38.📒 Income or expense: bus fare to the market? (a) expense (b) income
39. 39.Ananya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
40. 40.Tara’s income was ₹120 and the profit was ₹90. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?

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