Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 73 · 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.Vihaan’s income was ₹220 and the profit was ₹170. One expense was ₹40 (sugar). How much was the other expense, for ribbon (in ₹)?
2. 2.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) buying paper cups (d) buying lemons
3. 3.Tara’s stall took in ₹70 on Friday, ₹300 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
5. 5.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
6. 6.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
7. 7.Aarav’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹160 (card paper)
   Expense: ₹40 (sugar)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: cash from selling plants? (a) income (b) expense
9. 9.📒 Income or expense: a card order paid? (a) expense (b) income
10. 10.Dev’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
11. 11.True or false: “a card order paid” is an expense (money out). (a) True (b) False
12. 12.Riya’s income was ₹100 and the profit was ₹30. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
13. 13.Riya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹140 (transport)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
14. 14.Meera’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
15. 15.Meera’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
16. 16.Farhan’s stall took in ₹240 on Friday, ₹170 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
17. 17.Dev’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
18. 18.True or false: “cash from selling plants” is income (money in). (a) False (b) True
19. 19.📒 Income or expense: buying lemons? (a) expense (b) income
20. 20.Joseph’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
21. 21.Meera’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹210 (lemons)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
23. 23.Vihaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: bus fare to the market? (a) income (b) expense
25. 25.Lakshmi’s income was ₹180 and the profit was ₹10. One expense was ₹120 (sugar). How much was the other expense, for ribbon (in ₹)?
26. 26.True or false: “buying lemons” is income (money in). (a) True (b) False
27. 27.Saanvi’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
28. 28.True or false: “money from sales” is an expense (money out). (a) True (b) False
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.True or false: “buying lemons” is an expense (money out). (a) False (b) True
31. 31.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) payment for a cake order (d) money from sales
32. 32.📒 Income or expense: tutoring fees received? (a) income (b) expense
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) money from sales (d) printing posters
34. 34.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
35. 35.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) tutoring fees received (d) buying lemons
36. 36.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
37. 37.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
38. 38.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) buying lemons
39. 39.Joseph’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
40. 40.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) paying the stall fee

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