Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 755 · 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 income (money in)? (a) paying the stall fee (b) buying paper cups (c) money from sales (d) buying lemons
2. 2.Dev’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹100 (card paper)
   Expense: ₹10 (paper cups)
   How much is the loss (in ₹)?
3. 3.📒 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
4. 4.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) bus fare to the market (d) buying lemons
5. 5.📒 Income or expense: paying the stall fee? (a) income (b) expense
6. 6.Arjun’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹70 (card paper)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.True or false: “money from sales” is income (money in). (a) True (b) False
9. 9.Riya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹120 (sugar)
   Expense: ₹30 (transport)
   How much is the loss (in ₹)?
10. 10.Vihaan’s income was ₹190 and the profit was ₹120. One expense was ₹10 (ribbon). How much was the other expense, for sugar (in ₹)?
11. 11.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹170 (posters)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
12. 12.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
13. 13.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
14. 14.📒 Income or expense: cash from selling plants? (a) expense (b) income
15. 15.True or false: “payment for a cake order” is income (money in). (a) False (b) True
16. 16.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) printing posters (d) paying the stall fee
17. 17.True or false: “bus fare to the market” is income (money in). (a) True (b) False
18. 18.Farhan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹210 (transport)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
19. 19.Tara’s stall took in ₹370 on Friday, ₹180 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) a card order paid (d) money from sales
21. 21.True or false: “printing posters” is an expense (money out). (a) True (b) False
22. 22.Tara’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹70 (transport)
    Expense: ₹160 (stall fee)
    How much is the loss (in ₹)?
23. 23.Dev’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
24. 24.Ishaan’s stall took in ₹300 on Friday, ₹150 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
25. 25.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (transport)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
26. 26.Tara’s stall took in ₹400 on Friday, ₹130 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) a card order paid (d) buying paper cups
28. 28.Joseph’s income was ₹200 and the profit was ₹120. One expense was ₹70 (lemons). How much was the other expense, for posters (in ₹)?
29. 29.True or false: “tutoring fees received” is income (money in). (a) True (b) False
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) buying paper cups (d) printing posters
31. 31.📒 Income or expense: tutoring fees received? (a) expense (b) income
32. 32.Diya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
34. 34.Kabir’s stall took in ₹220 on Friday, ₹60 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) tutoring fees received (d) money from sales
36. 36.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
37. 37.Aarav’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
38. 38.Aarav’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹40 (transport)
    Expense: ₹260 (ribbon)
    How much is the loss (in ₹)?
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) buying paper cups
40. 40.📒 Income or expense: buying paper cups? (a) income (b) expense

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