Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 606 · 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: bus fare to the market? (a) income (b) expense
2. 2.Rohan’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
3. 3.Diya’s income was ₹280 and the profit was ₹100. One expense was ₹110 (posters). How much was the other expense, for paper cups (in ₹)?
4. 4.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) a card order paid (d) money from sales
5. 5.Diya’s income was ₹360 and the profit was ₹150. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
6. 6.Saanvi’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹160 (card paper)
   What is the profit (in ₹)?
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) tutoring fees received (d) paying the stall fee
8. 8.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
9. 9.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
10. 10.Aarav’s stall took in ₹250 on Friday, ₹310 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
11. 11.Saanvi’s income was ₹450 and the profit was ₹300. One expense was ₹120 (card paper). How much was the other expense, for transport (in ₹)?
12. 12.True or false: “a card order paid” is income (money in). (a) False (b) True
13. 13.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
14. 14.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying paper cups (d) bus fare to the market
15. 15.Nisha’s stall took in ₹120 on Friday, ₹300 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
16. 16.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) a card order paid (d) tutoring fees received
17. 17.Gurpreet’s stall took in ₹380 on Friday, ₹140 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: tutoring fees received? (a) income (b) expense
19. 19.Tara’s income was ₹210 and the profit was ₹30. One expense was ₹140 (stall fee). How much was the other expense, for posters (in ₹)?
20. 20.Kavya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
21. 21.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
22. 22.Ishaan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
23. 23.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?
24. 24.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) a card order paid (d) printing posters
25. 25.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
26. 26.True or false: “a card order paid” is an expense (money out). (a) False (b) True
27. 27.Meera’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: a card order paid? (a) expense (b) income
29. 29.Arjun’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹240 (transport)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
30. 30.Riya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
31. 31.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
32. 32.True or false: “money from sales” is an expense (money out). (a) False (b) True
33. 33.Meera’s income was ₹170 and the profit was ₹60. One expense was ₹50 (ribbon). How much was the other expense, for lemons (in ₹)?
34. 34.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) a card order paid (d) cash from selling plants
35. 35.Arjun’s stall took in ₹70 on Friday, ₹60 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “buying paper cups” is income (money in). (a) False (b) True
37. 37.Ishaan’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
38. 38.Arjun’s stall took in ₹110 on Friday, ₹190 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “payment for a cake order” is income (money in). (a) True (b) False
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) bus fare to the market (d) payment for a cake order

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