Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 753 · 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.Rohan’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹80 (paper cups)
   Expense: ₹40 (lemons)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: money from sales? (a) expense (b) income
3. 3.True or false: “bus fare to the market” is income (money in). (a) True (b) False
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) buying lemons
5. 5.Kabir’s record for the day:
   Income: ₹310 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹30 (transport)
   Expense: ₹150 (sugar)
   What is the profit (in ₹)?
6. 6.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) paying the stall fee (d) printing posters
7. 7.📒 Income or expense: printing posters? (a) expense (b) income
8. 8.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) money from sales
9. 9.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
10. 10.Kabir’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
11. 11.Rohan’s income was ₹500 and the profit was ₹210. One expense was ₹230 (posters). How much was the other expense, for transport (in ₹)?
12. 12.Meera’s stall took in ₹80 on Friday, ₹160 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
14. 14.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
15. 15.📒 Income or expense: paying the stall fee? (a) expense (b) income
16. 16.Kavya’s income was ₹290 and the profit was ₹230. One expense was ₹40 (paper cups). How much was the other expense, for sugar (in ₹)?
17. 17.Ananya’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: payment for a cake order? (a) expense (b) income
19. 19.Riya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
20. 20.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) payment for a cake order
21. 21.📒 Income or expense: buying lemons? (a) expense (b) income
22. 22.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
23. 23.Rohan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹120 (stall fee)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
24. 24.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (posters)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
25. 25.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) tutoring fees received
26. 26.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
27. 27.Nisha’s stall took in ₹240 on Friday, ₹350 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “tutoring fees received” is income (money in). (a) False (b) True
29. 29.Vihaan’s income was ₹430 and the profit was ₹60. One expense was ₹210 (transport). How much was the other expense, for paper cups (in ₹)?
30. 30.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) buying paper cups (d) buying lemons
31. 31.Nisha’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
32. 32.True or false: “a card order paid” is income (money in). (a) True (b) False
33. 33.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹310 (lemons)
    How much is the loss (in ₹)?
34. 34.Gurpreet’s income was ₹140 and the profit was ₹120. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?
35. 35.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) printing posters
36. 36.True or false: “buying lemons” is an expense (money out). (a) True (b) False
37. 37.Nisha’s stall took in ₹280 on Friday, ₹70 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “printing posters” is income (money in). (a) True (b) False
39. 39.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (posters)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
40. 40.Diya’s stall took in ₹350 on Friday, ₹230 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?

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