Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 601 · 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: paying the stall fee? (a) expense (b) income
2. 2.Ananya’s stall took in ₹380 on Friday, ₹200 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
3. 3.True or false: “tutoring fees received” is income (money in). (a) True (b) False
4. 4.📒 Income or expense: bus fare to the market? (a) income (b) expense
5. 5.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) buying lemons (d) bus fare to the market
6. 6.Meera’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹110 (transport)
   Expense: ₹70 (paper cups)
   What is the profit (in ₹)?
7. 7.Lakshmi’s income was ₹160 and the profit was ₹100. One expense was ₹30 (ribbon). How much was the other expense, for transport (in ₹)?
8. 8.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
9. 9.Aarav’s record for the day:
   Income: ₹490 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹140 (ribbon)
   Expense: ₹180 (paper cups)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: tutoring fees received? (a) expense (b) income
11. 11.True or false: “money from sales” is income (money in). (a) False (b) True
12. 12.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
13. 13.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
14. 14.Rohan’s income was ₹210 and the profit was ₹170. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
15. 15.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹60 (posters)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
16. 16.True or false: “printing posters” is an expense (money out). (a) True (b) False
17. 17.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) payment for a cake order (d) printing posters
19. 19.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
20. 20.Kavya’s stall took in ₹330 on Friday, ₹240 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
22. 22.Diya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
24. 24.Joseph’s stall took in ₹70 on Friday, ₹190 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
25. 25.Tara’s income was ₹180 and the profit was ₹10. One expense was ₹40 (stall fee). How much was the other expense, for posters (in ₹)?
26. 26.Dev’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
27. 27.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
28. 28.Nisha’s income was ₹120 and the profit was ₹50. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
29. 29.True or false: “money from sales” is an expense (money out). (a) False (b) True
30. 30.Kabir’s income was ₹180 and the profit was ₹60. One expense was ₹50 (transport). How much was the other expense, for lemons (in ₹)?
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) a card order paid (d) tutoring fees received
32. 32.Nisha’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹80 (transport)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: printing posters? (a) income (b) expense
34. 34.Arjun’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹220 (ribbon)
    How much is the loss (in ₹)?
35. 35.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) money from sales (d) printing posters
37. 37.Aarav’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹80 (posters)
    Expense: ₹240 (card paper)
    How much is the loss (in ₹)?
38. 38.Farhan’s stall took in ₹310 on Friday, ₹280 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
40. 40.Farhan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?

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