Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 715 · 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: “money from sales” is an expense (money out). (a) True (b) False
2. 2.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying lemons (d) paying the stall fee
3. 3.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) buying lemons (d) paying the stall fee
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
5. 5.Aarav’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹140 (transport)
   What is the profit (in ₹)?
6. 6.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) a card order paid (d) paying the stall fee
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
8. 8.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
9. 9.Gurpreet’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹60 (ribbon)
   Expense: ₹60 (transport)
   How much is the loss (in ₹)?
10. 10.True or false: “printing posters” is income (money in). (a) True (b) False
11. 11.True or false: “buying lemons” is income (money in). (a) True (b) False
12. 12.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.Ananya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹140 (posters)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: paying the stall fee? (a) expense (b) income
16. 16.Saanvi’s income was ₹330 and the profit was ₹40. One expense was ₹100 (ribbon). How much was the other expense, for lemons (in ₹)?
17. 17.Tara’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
18. 18.Gurpreet’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹40 (transport)
    Expense: ₹190 (posters)
    How much is the loss (in ₹)?
19. 19.Saanvi’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
20. 20.True or false: “cash from selling plants” is income (money in). (a) True (b) False
21. 21.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹180 (sugar)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: cash from selling plants? (a) income (b) expense
23. 23.Riya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹140 (stall fee)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
24. 24.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) payment for a cake order (d) money from sales
25. 25.Ishaan’s stall took in ₹310 on Friday, ₹90 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
26. 26.Arjun’s income was ₹320 and the profit was ₹210. One expense was ₹40 (paper cups). How much was the other expense, for ribbon (in ₹)?
27. 27.Arjun’s income was ₹150 and the profit was ₹30. One expense was ₹80 (paper cups). How much was the other expense, for lemons (in ₹)?
28. 28.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
29. 29.Kabir’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
31. 31.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying lemons (d) payment for a cake order
32. 32.True or false: “printing posters” is an expense (money out). (a) False (b) True
33. 33.📒 Income or expense: tutoring fees received? (a) expense (b) income
34. 34.Aarav’s income was ₹180 and the profit was ₹110. One expense was ₹30 (sugar). How much was the other expense, for ribbon (in ₹)?
35. 35.Vihaan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.Diya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹110 (transport)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
38. 38.Vihaan’s stall took in ₹400 on Friday, ₹230 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
39. 39.Zoya’s income was ₹450 and the profit was ₹200. One expense was ₹50 (ribbon). How much was the other expense, for card paper (in ₹)?
40. 40.Ishaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹270 (paper cups)
    How much is the loss (in ₹)?

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