Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 736 · 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.📒 Income or expense: money from sales? (a) expense (b) income
2. 2.Ananya’s income was ₹140 and the profit was ₹10. One expense was ₹70 (posters). How much was the other expense, for paper cups (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
4. 4.Aarav’s income was ₹160 and the profit was ₹40. One expense was ₹40 (lemons). How much was the other expense, for paper cups (in ₹)?
5. 5.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) money from sales (d) cash from selling plants
6. 6.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
7. 7.Joseph’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹60 (paper cups)
   Expense: ₹190 (card paper)
   What is the profit (in ₹)?
8. 8.Ishaan’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹110 (ribbon)
   Expense: ₹110 (stall fee)
   What is the profit (in ₹)?
9. 9.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) cash from selling plants (d) tutoring fees received
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
12. 12.True or false: “bus fare to the market” is income (money in). (a) True (b) False
13. 13.Meera’s income was ₹140 and the profit was ₹30. One expense was ₹80 (sugar). How much was the other expense, for card paper (in ₹)?
14. 14.Rohan’s income was ₹180 and the profit was ₹10. One expense was ₹90 (transport). How much was the other expense, for paper cups (in ₹)?
15. 15.True or false: “paying the stall fee” is income (money in). (a) True (b) False
16. 16.Arjun’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
17. 17.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) a card order paid (d) money from sales
18. 18.Meera’s income was ₹340 and the profit was ₹250. One expense was ₹30 (transport). How much was the other expense, for stall fee (in ₹)?
19. 19.Lakshmi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹290 (ribbon)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
20. 20.Joseph’s income was ₹470 and the profit was ₹410. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
21. 21.Lakshmi’s income was ₹160 and the profit was ₹130. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
22. 22.Kabir’s income was ₹100 and the profit was ₹20. One expense was ₹60 (ribbon). How much was the other expense, for stall fee (in ₹)?
23. 23.Tara’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹190 (ribbon)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
24. 24.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
25. 25.Ishaan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹180 (stall fee)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
26. 26.Diya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹130 (paper cups)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: bus fare to the market? (a) income (b) expense
28. 28.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) money from sales (d) buying lemons
29. 29.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) buying lemons (d) money from sales
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
31. 31.Arjun’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) bus fare to the market (d) buying lemons
33. 33.True or false: “printing posters” is income (money in). (a) False (b) True
34. 34.Farhan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
35. 35.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) bus fare to the market (d) buying paper cups
36. 36.Saanvi’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
37. 37.True or false: “payment for a cake order” is income (money in). (a) True (b) False
38. 38.Diya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) income (b) expense
40. 40.True or false: “buying paper cups” is income (money in). (a) True (b) False

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