Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 684 · 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.Gurpreet’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹110 (lemons)
   Expense: ₹70 (card paper)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: paying the stall fee? (a) expense (b) income
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
4. 4.📒 Income or expense: money from sales? (a) expense (b) income
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) tutoring fees received (d) money from sales
6. 6.Riya’s income was ₹200 and the profit was ₹20. One expense was ₹160 (transport). How much was the other expense, for paper cups (in ₹)?
7. 7.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
8. 8.📒 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
9. 9.Aarav’s stall took in ₹110 on Friday, ₹320 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) income (b) expense
11. 11.📒 Income or expense: bus fare to the market? (a) expense (b) income
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
14. 14.True or false: “a card order paid” is income (money in). (a) True (b) False
15. 15.Ishaan’s stall took in ₹210 on Friday, ₹280 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
17. 17.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
18. 18.Vihaan’s income was ₹230 and the profit was ₹20. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
19. 19.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) a card order paid (d) tutoring fees received
20. 20.Lakshmi’s stall took in ₹260 on Friday, ₹100 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “money from sales” is an expense (money out). (a) False (b) True
22. 22.Aarav’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
23. 23.📒 Income or expense: payment for a cake order? (a) expense (b) income
24. 24.Vihaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
25. 25.Ananya’s income was ₹250 and the profit was ₹160. One expense was ₹30 (ribbon). How much was the other expense, for transport (in ₹)?
26. 26.Meera’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
27. 27.Aarav’s income was ₹390 and the profit was ₹150. One expense was ₹50 (sugar). How much was the other expense, for stall fee (in ₹)?
28. 28.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) cash from selling plants
29. 29.Riya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (posters)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
30. 30.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
31. 31.Dev’s income was ₹150 and the profit was ₹10. One expense was ₹40 (lemons). How much was the other expense, for card paper (in ₹)?
32. 32.Diya’s stall took in ₹270 on Friday, ₹230 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
33. 33.Gurpreet’s income was ₹230 and the profit was ₹60. One expense was ₹30 (transport). How much was the other expense, for posters (in ₹)?
34. 34.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) bus fare to the market (d) tutoring fees received
35. 35.Saanvi’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹320 (lemons)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: printing posters? (a) income (b) expense
37. 37.📒 Income or expense: buying paper cups? (a) income (b) expense
38. 38.Kabir’s income was ₹170 and the profit was ₹80. One expense was ₹80 (paper cups). How much was the other expense, for card paper (in ₹)?
39. 39.Ishaan’s stall took in ₹120 on Friday, ₹210 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
40. 40.📒 Income or expense: buying lemons? (a) income (b) expense

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