Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 752 · 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) buying lemons (b) payment for a cake order (c) tutoring fees received (d) a card order paid
2. 2.Joseph’s income was ₹150 and the profit was ₹110. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
3. 3.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
4. 4.Rohan’s income was ₹330 and the profit was ₹240. One expense was ₹50 (lemons). How much was the other expense, for posters (in ₹)?
5. 5.Lakshmi’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹30 (ribbon)
   Expense: ₹200 (sugar)
   What is the profit (in ₹)?
6. 6.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) tutoring fees received
7. 7.Saanvi’s stall took in ₹350 on Friday, ₹400 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
8. 8.Riya’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹180 (stall fee)
   Expense: ₹50 (posters)
   What is the profit (in ₹)?
9. 9.Aarav’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹90 (card paper)
   Expense: ₹50 (posters)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: printing posters? (a) expense (b) income
11. 11.📒 Income or expense: tutoring fees received? (a) expense (b) income
12. 12.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
14. 14.Diya’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
15. 15.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying lemons (d) buying paper cups
16. 16.📒 Income or expense: cash from selling plants? (a) income (b) expense
17. 17.Gurpreet’s income was ₹150 and the profit was ₹60. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
18. 18.True or false: “money from sales” is income (money in). (a) True (b) False
19. 19.Vihaan’s income was ₹190 and the profit was ₹70. One expense was ₹90 (transport). How much was the other expense, for stall fee (in ₹)?
20. 20.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) cash from selling plants (d) a card order paid
21. 21.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) buying paper cups
22. 22.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹350 (paper cups)
    How much is the loss (in ₹)?
23. 23.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
24. 24.Ananya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
25. 25.True or false: “payment for a cake order” is income (money in). (a) False (b) True
26. 26.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) bus fare to the market
27. 27.Tara’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹140 (transport)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: paying the stall fee? (a) income (b) expense
29. 29.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
30. 30.Gurpreet’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
31. 31.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
32. 32.Riya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹150 (sugar)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
33. 33.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) money from sales
34. 34.Aarav’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
35. 35.Ananya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
36. 36.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
37. 37.Diya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
38. 38.Saanvi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
39. 39.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) tutoring fees received (d) cash from selling plants
40. 40.📒 Income or expense: bus fare to the market? (a) expense (b) income

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