Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 635 · 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: “buying paper cups” is income (money in). (a) False (b) True
2. 2.Diya’s stall took in ₹190 on Friday, ₹60 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
4. 4.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
5. 5.Kabir’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹200 (stall fee)
   Expense: ₹140 (card paper)
   How much is the loss (in ₹)?
6. 6.Ananya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹120 (lemons)
   Expense: ₹50 (card paper)
   What is the profit (in ₹)?
7. 7.True or false: “tutoring fees received” is income (money in). (a) False (b) True
8. 8.Rohan’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹200 (posters)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) bus fare to the market (d) money from sales
10. 10.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
11. 11.📒 Income or expense: a card order paid? (a) expense (b) income
12. 12.Lakshmi’s stall took in ₹290 on Friday, ₹320 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
13. 13.Riya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
14. 14.Vihaan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹260 (transport)
    How much is the loss (in ₹)?
15. 15.Farhan’s stall took in ₹110 on Friday, ₹370 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
16. 16.Saanvi’s income was ₹350 and the profit was ₹40. One expense was ₹90 (lemons). How much was the other expense, for card paper (in ₹)?
17. 17.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
18. 18.Kabir’s stall took in ₹110 on Friday, ₹400 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
20. 20.Vihaan’s stall took in ₹110 on Friday, ₹130 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
22. 22.Kavya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
23. 23.True or false: “money from sales” is an expense (money out). (a) False (b) True
24. 24.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) tutoring fees received
25. 25.Saanvi’s stall took in ₹330 on Friday, ₹100 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
26. 26.Diya’s stall took in ₹340 on Friday, ₹70 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) payment for a cake order (d) paying the stall fee
28. 28.📒 Income or expense: paying the stall fee? (a) expense (b) income
29. 29.📒 Income or expense: buying paper cups? (a) income (b) expense
30. 30.Saanvi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
31. 31.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
32. 32.Ishaan’s stall took in ₹100 on Friday, ₹240 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “cash from selling plants” is income (money in). (a) True (b) False
34. 34.True or false: “a card order paid” is an expense (money out). (a) False (b) True
35. 35.Riya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying lemons (d) payment for a cake order
38. 38.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹220 (ribbon)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: payment for a cake order? (a) expense (b) income
40. 40.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?

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