Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 711 · 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.Rohan’s income was ₹110 and the profit was ₹90. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
2. 2.True or false: “a card order paid” is an expense (money out). (a) False (b) True
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) bus fare to the market (d) buying lemons
4. 4.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) bus fare to the market (d) paying the stall fee
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) paying the stall fee (d) bus fare to the market
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) bus fare to the market (d) a card order paid
8. 8.True or false: “buying lemons” is income (money in). (a) False (b) True
9. 9.Vihaan’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹40 (ribbon)
   Expense: ₹170 (lemons)
   How much is the loss (in ₹)?
10. 10.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
11. 11.Meera’s stall took in ₹210 on Friday, ₹330 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.True or false: “tutoring fees received” is income (money in). (a) True (b) False
14. 14.Aarav’s stall took in ₹380 on Friday, ₹380 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
15. 15.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
16. 16.Riya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
17. 17.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
18. 18.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
19. 19.Vihaan’s income was ₹460 and the profit was ₹350. One expense was ₹70 (lemons). How much was the other expense, for posters (in ₹)?
20. 20.📒 Income or expense: buying lemons? (a) expense (b) income
21. 21.📒 Income or expense: cash from selling plants? (a) income (b) expense
22. 22.True or false: “buying paper cups” is income (money in). (a) False (b) True
23. 23.📒 Income or expense: payment for a cake order? (a) expense (b) income
24. 24.Farhan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
25. 25.Aarav’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
26. 26.Vihaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
27. 27.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: buying paper cups? (a) income (b) expense
29. 29.True or false: “printing posters” is income (money in). (a) False (b) True
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) a card order paid (d) payment for a cake order
31. 31.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
32. 32.True or false: “money from sales” is an expense (money out). (a) True (b) False
33. 33.Arjun’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹150 (card paper)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
34. 34.Nisha’s stall took in ₹340 on Friday, ₹60 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
35. 35.Vihaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
36. 36.Zoya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
37. 37.True or false: “money from sales” is income (money in). (a) True (b) False
38. 38.Ananya’s income was ₹290 and the profit was ₹170. One expense was ₹80 (lemons). How much was the other expense, for paper cups (in ₹)?
39. 39.📒 Income or expense: money from sales? (a) expense (b) income
40. 40.Rohan’s stall took in ₹280 on Friday, ₹280 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?

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