Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 627 · 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: “payment for a cake order” is income (money in). (a) True (b) False
2. 2.Meera’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹430 (evening sales)
   Expense: ₹170 (stall fee)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
3. 3.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) payment for a cake order (d) printing posters
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
5. 5.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
6. 6.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) bus fare to the market
7. 7.Arjun’s income was ₹310 and the profit was ₹160. One expense was ₹140 (posters). How much was the other expense, for paper cups (in ₹)?
8. 8.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
9. 9.True or false: “money from sales” is income (money in). (a) False (b) True
10. 10.Lakshmi’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) printing posters (d) bus fare to the market
12. 12.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
13. 13.Aarav’s income was ₹300 and the profit was ₹270. One expense was ₹20 (paper cups). How much was the other expense, for card paper (in ₹)?
14. 14.Dev’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
15. 15.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
16. 16.True or false: “money from sales” is an expense (money out). (a) True (b) False
17. 17.Diya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
18. 18.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹290 (ribbon)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
19. 19.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
20. 20.📒 Income or expense: buying lemons? (a) income (b) expense
21. 21.📒 Income or expense: money from sales? (a) expense (b) income
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) printing posters
23. 23.📒 Income or expense: tutoring fees received? (a) income (b) expense
24. 24.Ananya’s income was ₹130 and the profit was ₹50. One expense was ₹50 (ribbon). How much was the other expense, for sugar (in ₹)?
25. 25.Tara’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (transport)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
26. 26.True or false: “printing posters” is an expense (money out). (a) True (b) False
27. 27.Lakshmi’s income was ₹240 and the profit was ₹210. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
28. 28.Tara’s income was ₹170 and the profit was ₹60. One expense was ₹80 (lemons). How much was the other expense, for paper cups (in ₹)?
29. 29.📒 Income or expense: bus fare to the market? (a) expense (b) income
30. 30.📒 Income or expense: buying paper cups? (a) expense (b) income
31. 31.📒 Income or expense: printing posters? (a) income (b) expense
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) paying the stall fee (d) tutoring fees received
33. 33.📒 Income or expense: paying the stall fee? (a) income (b) expense
34. 34.Saanvi’s income was ₹370 and the profit was ₹340. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
35. 35.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) money from sales (d) buying paper cups
36. 36.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
37. 37.Meera’s income was ₹180 and the profit was ₹50. One expense was ₹110 (transport). How much was the other expense, for sugar (in ₹)?
38. 38.Kabir’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
39. 39.Diya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
40. 40.Vihaan’s income was ₹360 and the profit was ₹200. One expense was ₹60 (sugar). How much was the other expense, for transport (in ₹)?

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