Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 77 · 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: “tutoring fees received” is income (money in). (a) True (b) False
2. 2.Kavya’s income was ₹220 and the profit was ₹80. One expense was ₹130 (posters). How much was the other expense, for card paper (in ₹)?
3. 3.Kabir’s stall took in ₹360 on Friday, ₹390 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
4. 4.Meera’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹190 (ribbon)
   Expense: ₹110 (stall fee)
   How much is the loss (in ₹)?
5. 5.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
6. 6.Aarav’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹30 (posters)
   Expense: ₹60 (ribbon)
   How much is the loss (in ₹)?
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) a card order paid
8. 8.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying lemons (d) cash from selling plants
9. 9.True or false: “a card order paid” is an expense (money out). (a) False (b) True
10. 10.True or false: “cash from selling plants” is income (money in). (a) False (b) True
11. 11.True or false: “payment for a cake order” is income (money in). (a) False (b) True
12. 12.Joseph’s income was ₹220 and the profit was ₹50. One expense was ₹120 (card paper). How much was the other expense, for transport (in ₹)?
13. 13.Arjun’s stall took in ₹230 on Friday, ₹310 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “buying paper cups” is income (money in). (a) False (b) True
15. 15.📒 Income or expense: paying the stall fee? (a) income (b) expense
16. 16.Ishaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.Nisha’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
19. 19.Lakshmi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
20. 20.Joseph’s stall took in ₹190 on Friday, ₹390 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
22. 22.True or false: “paying the stall fee” is income (money in). (a) True (b) False
23. 23.Aarav’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (posters)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
24. 24.Dev’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹150 (transport)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
25. 25.Meera’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹40 (posters)
    Expense: ₹230 (stall fee)
    How much is the loss (in ₹)?
26. 26.Vihaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (transport)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
27. 27.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
28. 28.Kavya’s income was ₹210 and the profit was ₹90. One expense was ₹70 (ribbon). How much was the other expense, for paper cups (in ₹)?
29. 29.True or false: “buying lemons” is income (money in). (a) False (b) True
30. 30.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
31. 31.📒 Income or expense: money from sales? (a) income (b) expense
32. 32.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
33. 33.📒 Income or expense: printing posters? (a) expense (b) income
34. 34.True or false: “bus fare to the market” is income (money in). (a) False (b) True
35. 35.📒 Income or expense: bus fare to the market? (a) income (b) expense
36. 36.Ananya’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹200 (transport)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
37. 37.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
38. 38.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.Zoya’s income was ₹480 and the profit was ₹250. One expense was ₹220 (sugar). How much was the other expense, for lemons (in ₹)?

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