Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 730 · 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: “cash from selling plants” is income (money in). (a) False (b) True
2. 2.📒 Income or expense: buying lemons? (a) income (b) expense
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.Kabir’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹180 (posters)
   Expense: ₹70 (transport)
   How much is the loss (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) buying paper cups (d) printing posters
6. 6.Kabir’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹50 (card paper)
   Expense: ₹80 (lemons)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: money from sales? (a) income (b) expense
8. 8.Arjun’s income was ₹390 and the profit was ₹190. One expense was ₹130 (posters). How much was the other expense, for sugar (in ₹)?
9. 9.Lakshmi’s income was ₹370 and the profit was ₹160. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) income (b) expense
11. 11.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) paying the stall fee (d) bus fare to the market
12. 12.True or false: “money from sales” is income (money in). (a) True (b) False
13. 13.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
14. 14.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) a card order paid (d) printing posters
15. 15.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) tutoring fees received
16. 16.True or false: “money from sales” is an expense (money out). (a) True (b) False
17. 17.Kavya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹70 (posters)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
18. 18.Diya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
19. 19.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
20. 20.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
21. 21.📒 Income or expense: paying the stall fee? (a) income (b) expense
22. 22.Rohan’s stall took in ₹200 on Friday, ₹330 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
23. 23.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
24. 24.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) payment for a cake order
25. 25.True or false: “payment for a cake order” is income (money in). (a) False (b) True
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) payment for a cake order (d) money from sales
27. 27.Joseph’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
28. 28.Farhan’s stall took in ₹110 on Friday, ₹120 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: bus fare to the market? (a) expense (b) income
30. 30.Saanvi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
31. 31.Diya’s income was ₹120 and the profit was ₹20. One expense was ₹40 (card paper). How much was the other expense, for stall fee (in ₹)?
32. 32.Ananya’s income was ₹400 and the profit was ₹80. One expense was ₹220 (lemons). How much was the other expense, for sugar (in ₹)?
33. 33.Ishaan’s income was ₹140 and the profit was ₹110. One expense was ₹20 (sugar). How much was the other expense, for card paper (in ₹)?
34. 34.Lakshmi’s income was ₹430 and the profit was ₹400. One expense was ₹10 (posters). How much was the other expense, for stall fee (in ₹)?
35. 35.Diya’s income was ₹260 and the profit was ₹110. One expense was ₹140 (stall fee). How much was the other expense, for lemons (in ₹)?
36. 36.Aarav’s stall took in ₹140 on Friday, ₹240 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
37. 37.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
38. 38.Kavya’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
39. 39.True or false: “buying lemons” is income (money in). (a) False (b) True
40. 40.Vihaan’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?

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