Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 714 · 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) True (b) False
2. 2.Nisha’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹30 (transport)
   Expense: ₹100 (sugar)
   What is the profit (in ₹)?
3. 3.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) a card order paid (d) money from sales
4. 4.📒 Income or expense: printing posters? (a) income (b) expense
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) a card order paid (d) buying lemons
6. 6.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
7. 7.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
8. 8.Farhan’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹20 (ribbon)
   Expense: ₹180 (posters)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) buying lemons (d) tutoring fees received
10. 10.Tara’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: money from sales? (a) expense (b) income
12. 12.📒 Income or expense: buying lemons? (a) expense (b) income
13. 13.Rohan’s income was ₹110 and the profit was ₹70. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
14. 14.True or false: “money from sales” is an expense (money out). (a) False (b) True
15. 15.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
16. 16.📒 Income or expense: buying paper cups? (a) expense (b) income
17. 17.Ananya’s income was ₹470 and the profit was ₹400. One expense was ₹50 (transport). How much was the other expense, for card paper (in ₹)?
18. 18.Gurpreet’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: cash from selling plants? (a) income (b) expense
20. 20.📒 Income or expense: bus fare to the market? (a) income (b) expense
21. 21.Vihaan’s stall took in ₹130 on Friday, ₹320 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
22. 22.Ananya’s stall took in ₹80 on Friday, ₹310 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
23. 23.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
24. 24.Dev’s stall took in ₹110 on Friday, ₹250 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
25. 25.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) bus fare to the market (d) tutoring fees received
27. 27.True or false: “buying lemons” is an expense (money out). (a) False (b) True
28. 28.📒 Income or expense: tutoring fees received? (a) expense (b) income
29. 29.Rohan’s income was ₹320 and the profit was ₹290. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
30. 30.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
31. 31.Nisha’s income was ₹170 and the profit was ₹30. One expense was ₹110 (sugar). How much was the other expense, for paper cups (in ₹)?
32. 32.Ishaan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
33. 33.Aarav’s income was ₹130 and the profit was ₹110. One expense was ₹10 (transport). How much was the other expense, for posters (in ₹)?
34. 34.Joseph’s stall took in ₹160 on Friday, ₹390 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
35. 35.Joseph’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹10 (posters)
    Expense: ₹240 (sugar)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: payment for a cake order? (a) expense (b) income
37. 37.Nisha’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
38. 38.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
39. 39.Kavya’s stall took in ₹370 on Friday, ₹60 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
40. 40.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook

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