Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 770 · 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: “money from sales” is an expense (money out). (a) True (b) False
2. 2.Tara’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹40 (sugar)
   Expense: ₹90 (ribbon)
   How much is the loss (in ₹)?
3. 3.📒 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
4. 4.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) buying paper cups
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.Farhan’s income was ₹360 and the profit was ₹200. One expense was ₹40 (sugar). How much was the other expense, for transport (in ₹)?
7. 7.Riya’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹170 (transport)
   Expense: ₹190 (sugar)
   How much is the loss (in ₹)?
8. 8.Gurpreet’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹50 (posters)
   Expense: ₹80 (stall fee)
   How much is the loss (in ₹)?
9. 9.Vihaan’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹180 (lemons)
   Expense: ₹130 (card paper)
   What is the profit (in ₹)?
10. 10.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) printing posters (d) buying lemons
11. 11.📒 Income or expense: buying paper cups? (a) income (b) expense
12. 12.Kavya’s income was ₹470 and the profit was ₹230. One expense was ₹130 (transport). How much was the other expense, for posters (in ₹)?
13. 13.📒 Income or expense: a card order paid? (a) income (b) expense
14. 14.Aarav’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
15. 15.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) payment for a cake order
16. 16.Joseph’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
21. 21.True or false: “cash from selling plants” is income (money in). (a) False (b) True
22. 22.📒 Income or expense: cash from selling plants? (a) expense (b) income
23. 23.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
25. 25.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) a card order paid (d) paying the stall fee
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) money from sales
27. 27.Zoya’s income was ₹370 and the profit was ₹170. One expense was ₹120 (sugar). How much was the other expense, for paper cups (in ₹)?
28. 28.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
29. 29.Joseph’s stall took in ₹130 on Friday, ₹250 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
30. 30.Nisha’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
31. 31.Vihaan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: tutoring fees received? (a) income (b) expense
33. 33.Ishaan’s stall took in ₹290 on Friday, ₹180 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
35. 35.True or false: “buying lemons” is income (money in). (a) False (b) True
36. 36.Ananya’s income was ₹410 and the profit was ₹390. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
37. 37.Zoya’s stall took in ₹150 on Friday, ₹310 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
38. 38.Arjun’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
39. 39.Meera’s income was ₹320 and the profit was ₹60. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
40. 40.Saanvi’s stall took in ₹330 on Friday, ₹100 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?

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