Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 717 · 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.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) paying the stall fee (d) payment for a cake order
2. 2.Joseph’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹40 (sugar)
   Expense: ₹60 (stall fee)
   What is the profit (in ₹)?
3. 3.True or false: “cash from selling plants” is income (money in). (a) True (b) False
4. 4.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) a card order paid (d) paying the stall fee
5. 5.Rohan’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹190 (paper cups)
   Expense: ₹70 (transport)
   How much is the loss (in ₹)?
6. 6.Vihaan’s stall took in ₹50 on Friday, ₹50 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
7. 7.Ananya’s income was ₹260 and the profit was ₹20. One expense was ₹220 (paper cups). How much was the other expense, for card paper (in ₹)?
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) money from sales (d) buying paper cups
9. 9.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
10. 10.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
11. 11.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
12. 12.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
13. 13.Tara’s income was ₹490 and the profit was ₹260. One expense was ₹220 (paper cups). How much was the other expense, for card paper (in ₹)?
14. 14.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) paying the stall fee (d) bus fare to the market
15. 15.Diya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
16. 16.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) money from sales (d) tutoring fees received
17. 17.📒 Income or expense: money from sales? (a) income (b) expense
18. 18.Tara’s income was ₹140 and the profit was ₹20. One expense was ₹50 (card paper). How much was the other expense, for paper cups (in ₹)?
19. 19.Aarav’s stall took in ₹350 on Friday, ₹360 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
20. 20.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.📒 Income or expense: buying paper cups? (a) expense (b) income
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) cash from selling plants
24. 24.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
25. 25.Zoya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
26. 26.Ananya’s income was ₹190 and the profit was ₹90. One expense was ₹90 (paper cups). How much was the other expense, for card paper (in ₹)?
27. 27.📒 Income or expense: paying the stall fee? (a) income (b) expense
28. 28.Saanvi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
29. 29.Nisha’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
30. 30.Rohan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹100 (posters)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
31. 31.Nisha’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹230 (sugar)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
32. 32.Nisha’s stall took in ₹330 on Friday, ₹120 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “bus fare to the market” is income (money in). (a) False (b) True
34. 34.Meera’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
35. 35.Kavya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
36. 36.Gurpreet’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
37. 37.Gurpreet’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹90 (transport)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
38. 38.True or false: “money from sales” is an expense (money out). (a) True (b) False
39. 39.Joseph’s income was ₹220 and the profit was ₹150. One expense was ₹60 (sugar). How much was the other expense, for paper cups (in ₹)?
40. 40.Nisha’s stall took in ₹270 on Friday, ₹190 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?

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