Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 616 · 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.Nisha’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹10 (transport)
   Expense: ₹310 (card paper)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: money from sales? (a) income (b) expense
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
4. 4.True or false: “tutoring fees received” is income (money in). (a) False (b) True
5. 5.True or false: “payment for a cake order” is income (money in). (a) True (b) False
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) printing posters
7. 7.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
8. 8.📒 Income or expense: cash from selling plants? (a) income (b) expense
9. 9.Aarav’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹340 (lemons)
   How much is the loss (in ₹)?
10. 10.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.Meera’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹290 (transport)
    How much is the loss (in ₹)?
13. 13.Aarav’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹240 (sugar)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
14. 14.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
15. 15.📒 Income or expense: tutoring fees received? (a) income (b) expense
16. 16.Saanvi’s income was ₹160 and the profit was ₹130. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
17. 17.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
18. 18.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying paper cups (d) bus fare to the market
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) bus fare to the market (d) a card order paid
20. 20.Dev’s income was ₹230 and the profit was ₹40. One expense was ₹160 (lemons). How much was the other expense, for ribbon (in ₹)?
21. 21.Gurpreet’s stall took in ₹50 on Friday, ₹50 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) money from sales (d) buying lemons
23. 23.📒 Income or expense: bus fare to the market? (a) income (b) expense
24. 24.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
25. 25.Kavya’s stall took in ₹160 on Friday, ₹80 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
26. 26.Ananya’s income was ₹450 and the profit was ₹290. One expense was ₹40 (stall fee). How much was the other expense, for transport (in ₹)?
27. 27.True or false: “printing posters” is an expense (money out). (a) True (b) False
28. 28.Meera’s income was ₹220 and the profit was ₹110. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
29. 29.True or false: “money from sales” is an expense (money out). (a) True (b) False
30. 30.Farhan’s stall took in ₹170 on Friday, ₹250 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
31. 31.Lakshmi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) tutoring fees received
33. 33.Riya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹190 (sugar)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
34. 34.True or false: “cash from selling plants” is income (money in). (a) True (b) False
35. 35.Vihaan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
36. 36.Ananya’s stall took in ₹390 on Friday, ₹170 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
37. 37.Diya’s income was ₹310 and the profit was ₹270. One expense was ₹20 (stall fee). How much was the other expense, for card paper (in ₹)?
38. 38.Rohan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹270 (ribbon)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
39. 39.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) bus fare to the market (d) paying the stall fee
40. 40.Rohan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?

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