Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 632 · 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.Aarav’s income was ₹280 and the profit was ₹220. One expense was ₹30 (sugar). How much was the other expense, for paper cups (in ₹)?
2. 2.True or false: “a card order paid” is income (money in). (a) False (b) True
3. 3.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) bus fare to the market (d) a card order paid
4. 4.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) printing posters (d) bus fare to the market
5. 5.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) cash from selling plants (d) tutoring fees received
6. 6.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
7. 7.Dev’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹10 (sugar)
   Expense: ₹100 (ribbon)
   How much is the loss (in ₹)?
8. 8.Aarav’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹110 (card paper)
   What is the profit (in ₹)?
9. 9.Saanvi’s stall took in ₹400 on Friday, ₹180 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
10. 10.Ananya’s stall took in ₹320 on Friday, ₹120 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
11. 11.Arjun’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
12. 12.Nisha’s stall took in ₹130 on Friday, ₹70 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “money from sales” is income (money in). (a) False (b) True
14. 14.Vihaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
15. 15.Diya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
16. 16.True or false: “payment for a cake order” is income (money in). (a) True (b) False
17. 17.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
18. 18.Farhan’s stall took in ₹380 on Friday, ₹360 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
20. 20.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
21. 21.Meera’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹200 (transport)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
22. 22.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
23. 23.Farhan’s income was ₹420 and the profit was ₹60. One expense was ₹100 (paper cups). How much was the other expense, for stall fee (in ₹)?
24. 24.Aarav’s stall took in ₹100 on Friday, ₹250 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
25. 25.Kavya’s income was ₹170 and the profit was ₹130. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
26. 26.📒 Income or expense: paying the stall fee? (a) income (b) expense
27. 27.📒 Income or expense: buying paper cups? (a) income (b) expense
28. 28.Gurpreet’s record for the day:
    Income: ₹620 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
29. 29.Kabir’s stall took in ₹390 on Friday, ₹60 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) tutoring fees received (d) printing posters
31. 31.True or false: “buying lemons” is an expense (money out). (a) True (b) False
32. 32.📒 Income or expense: payment for a cake order? (a) income (b) expense
33. 33.Lakshmi’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
34. 34.Ishaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
35. 35.True or false: “tutoring fees received” is income (money in). (a) True (b) False
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.📒 Income or expense: cash from selling plants? (a) expense (b) income
39. 39.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
40. 40.True or false: “printing posters” is an expense (money out). (a) False (b) True

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