Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 774 · 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.Nisha’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹70 (paper cups)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.True or false: “buying lemons” is an expense (money out). (a) False (b) True
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
5. 5.True or false: “money from sales” is income (money in). (a) True (b) False
6. 6.Meera’s stall took in ₹380 on Friday, ₹160 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
7. 7.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
8. 8.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) buying lemons
9. 9.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) printing posters
10. 10.📒 Income or expense: payment for a cake order? (a) expense (b) income
11. 11.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) cash from selling plants (d) tutoring fees received
12. 12.True or false: “buying lemons” is income (money in). (a) True (b) False
13. 13.True or false: “payment for a cake order” is income (money in). (a) True (b) False
14. 14.True or false: “printing posters” is an expense (money out). (a) True (b) False
15. 15.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) paying the stall fee (d) buying paper cups
16. 16.True or false: “paying the stall fee” is income (money in). (a) True (b) False
17. 17.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
18. 18.Joseph’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
20. 20.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) money from sales
21. 21.Arjun’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
23. 23.📒 Income or expense: paying the stall fee? (a) income (b) expense
24. 24.Kabir’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
25. 25.📒 Income or expense: money from sales? (a) expense (b) income
26. 26.Tara’s income was ₹380 and the profit was ₹160. One expense was ₹50 (lemons). How much was the other expense, for stall fee (in ₹)?
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) buying paper cups
28. 28.Vihaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
29. 29.Dev’s stall took in ₹70 on Friday, ₹120 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
30. 30.Kavya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹120 (posters)
    Expense: ₹160 (transport)
    How much is the loss (in ₹)?
31. 31.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) bus fare to the market (d) printing posters
32. 32.Riya’s income was ₹440 and the profit was ₹190. One expense was ₹70 (posters). How much was the other expense, for ribbon (in ₹)?
33. 33.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
34. 34.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
35. 35.Arjun’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
36. 36.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹160 (card paper)
    How much is the loss (in ₹)?
37. 37.Vihaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
38. 38.True or false: “buying paper cups” is income (money in). (a) True (b) False
39. 39.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
40. 40.Joseph’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?

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