Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 776 · 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: “buying lemons” is income (money in). (a) True (b) False
2. 2.Rohan’s stall took in ₹110 on Friday, ₹340 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
3. 3.Ishaan’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹10 (card paper)
   Expense: ₹280 (transport)
   How much is the loss (in ₹)?
4. 4.Nisha’s income was ₹210 and the profit was ₹140. One expense was ₹30 (transport). How much was the other expense, for sugar (in ₹)?
5. 5.Aarav’s income was ₹220 and the profit was ₹190. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
7. 7.Tara’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹90 (sugar)
   Expense: ₹150 (paper cups)
   What is the profit (in ₹)?
8. 8.Saanvi’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹110 (stall fee)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
9. 9.Zoya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹160 (stall fee)
   Expense: ₹100 (lemons)
   What is the profit (in ₹)?
10. 10.True or false: “payment for a cake order” is income (money in). (a) False (b) True
11. 11.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) payment for a cake order (d) buying lemons
12. 12.Meera’s income was ₹460 and the profit was ₹20. One expense was ₹200 (posters). How much was the other expense, for lemons (in ₹)?
13. 13.Tara’s stall took in ₹350 on Friday, ₹330 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
14. 14.Rohan’s stall took in ₹280 on Friday, ₹90 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
15. 15.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
16. 16.📒 Income or expense: cash from selling plants? (a) income (b) expense
17. 17.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: buying lemons? (a) income (b) expense
19. 19.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) cash from selling plants
20. 20.Gurpreet’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹150 (paper cups)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
21. 21.Rohan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) tutoring fees received (d) a card order paid
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) bus fare to the market (d) money from sales
24. 24.True or false: “tutoring fees received” is income (money in). (a) True (b) False
25. 25.True or false: “buying paper cups” is income (money in). (a) True (b) False
26. 26.📒 Income or expense: buying paper cups? (a) expense (b) income
27. 27.Nisha’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
29. 29.📒 Income or expense: bus fare to the market? (a) expense (b) income
30. 30.Meera’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
31. 31.Kavya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) tutoring fees received
33. 33.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) money from sales (d) tutoring fees received
34. 34.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
35. 35.True or false: “paying the stall fee” is income (money in). (a) True (b) False
36. 36.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
37. 37.Ananya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
38. 38.Tara’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
39. 39.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) a card order paid (d) paying the stall fee
40. 40.Farhan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹240 (ribbon)
    How much is the loss (in ₹)?

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