Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 620 · 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.True or false: “bus fare to the market” is income (money in). (a) False (b) True
2. 2.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
3. 3.Zoya’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹130 (paper cups)
   Expense: ₹130 (lemons)
   What is the profit (in ₹)?
4. 4.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
5. 5.Riya’s record for the day:
   Income: ₹440 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹120 (lemons)
   Expense: ₹170 (posters)
   What is the profit (in ₹)?
6. 6.Riya’s stall took in ₹240 on Friday, ₹120 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “buying lemons” is an expense (money out). (a) True (b) False
8. 8.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) money from sales (d) tutoring fees received
9. 9.Arjun’s stall took in ₹130 on Friday, ₹390 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
11. 11.Saanvi’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.Lakshmi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
14. 14.Dev’s income was ₹330 and the profit was ₹220. One expense was ₹20 (paper cups). How much was the other expense, for card paper (in ₹)?
15. 15.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) paying the stall fee (d) printing posters
16. 16.Zoya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
17. 17.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) buying lemons (d) paying the stall fee
18. 18.📒 Income or expense: money from sales? (a) income (b) expense
19. 19.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) cash from selling plants (d) printing posters
20. 20.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
21. 21.Dev’s income was ₹320 and the profit was ₹80. One expense was ₹210 (stall fee). How much was the other expense, for sugar (in ₹)?
22. 22.📒 Income or expense: buying lemons? (a) income (b) expense
23. 23.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
24. 24.Meera’s income was ₹340 and the profit was ₹250. One expense was ₹10 (ribbon). How much was the other expense, for sugar (in ₹)?
25. 25.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
26. 26.Kabir’s stall took in ₹200 on Friday, ₹170 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
27. 27.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
28. 28.Lakshmi’s stall took in ₹50 on Friday, ₹350 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
29. 29.Ananya’s income was ₹230 and the profit was ₹190. One expense was ₹20 (transport). How much was the other expense, for ribbon (in ₹)?
30. 30.Arjun’s income was ₹210 and the profit was ₹80. One expense was ₹40 (sugar). How much was the other expense, for stall fee (in ₹)?
31. 31.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) tutoring fees received (d) a card order paid
32. 32.📒 Income or expense: paying the stall fee? (a) expense (b) income
33. 33.Ananya’s income was ₹130 and the profit was ₹100. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
34. 34.Meera’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
35. 35.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) payment for a cake order (d) cash from selling plants
36. 36.📒 Income or expense: printing posters? (a) income (b) expense
37. 37.True or false: “tutoring fees received” is income (money in). (a) True (b) False
38. 38.Diya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹170 (card paper)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
39. 39.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
40. 40.Diya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?

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