Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 70 · 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 an expense (money out). (a) True (b) False
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) paying the stall fee
4. 4.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
5. 5.Kavya’s income was ₹470 and the profit was ₹60. One expense was ₹160 (card paper). How much was the other expense, for paper cups (in ₹)?
6. 6.Nisha’s income was ₹490 and the profit was ₹400. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
7. 7.True or false: “money from sales” is an expense (money out). (a) True (b) False
8. 8.Gurpreet’s stall took in ₹90 on Friday, ₹360 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “cash from selling plants” is income (money in). (a) False (b) True
10. 10.Zoya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
11. 11.📒 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
12. 12.Kavya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹270 (posters)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
13. 13.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) tutoring fees received (d) printing posters
14. 14.Diya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
15. 15.True or false: “printing posters” is income (money in). (a) True (b) False
16. 16.Ishaan’s income was ₹260 and the profit was ₹40. One expense was ₹190 (posters). How much was the other expense, for sugar (in ₹)?
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) tutoring fees received (d) money from sales
18. 18.📒 Income or expense: a card order paid? (a) income (b) expense
19. 19.Vihaan’s stall took in ₹50 on Friday, ₹200 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying lemons (d) paying the stall fee
21. 21.Zoya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
22. 22.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
23. 23.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
24. 24.Nisha’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
25. 25.True or false: “tutoring fees received” is income (money in). (a) True (b) False
26. 26.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) buying lemons (d) cash from selling plants
28. 28.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
29. 29.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) bus fare to the market (d) tutoring fees received
30. 30.Rohan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹180 (stall fee)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
31. 31.Saanvi’s stall took in ₹150 on Friday, ₹330 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
32. 32.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹100 (posters)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
33. 33.Zoya’s income was ₹170 and the profit was ₹60. One expense was ₹20 (posters). How much was the other expense, for sugar (in ₹)?
34. 34.Zoya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
35. 35.Saanvi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
36. 36.Ishaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹260 (sugar)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: bus fare to the market? (a) expense (b) income
38. 38.Ananya’s stall took in ₹60 on Friday, ₹270 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
39. 39.Dev’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
40. 40.Dev’s stall took in ₹110 on Friday, ₹220 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?

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