Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 778 · 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.📒 Income or expense: tutoring fees received? (a) expense (b) income
3. 3.True or false: “money from sales” is income (money in). (a) True (b) False
4. 4.True or false: “a card order paid” is an expense (money out). (a) True (b) False
5. 5.Nisha’s stall took in ₹340 on Friday, ₹180 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.Riya’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹470 (evening sales)
   Expense: ₹190 (posters)
   Expense: ₹70 (ribbon)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: buying paper cups? (a) income (b) expense
8. 8.Nisha’s income was ₹450 and the profit was ₹110. One expense was ₹130 (transport). How much was the other expense, for lemons (in ₹)?
9. 9.Diya’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹180 (ribbon)
   Expense: ₹80 (posters)
   How much is the loss (in ₹)?
10. 10.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying paper cups (d) tutoring fees received
11. 11.Vihaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
14. 14.True or false: “paying the stall fee” is income (money in). (a) False (b) True
15. 15.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
16. 16.True or false: “printing posters” is an expense (money out). (a) True (b) False
17. 17.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
18. 18.📒 Income or expense: paying the stall fee? (a) income (b) expense
19. 19.📒 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
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Gurpreet’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
22. 22.Vihaan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: a card order paid? (a) income (b) expense
24. 24.True or false: “buying paper cups” is income (money in). (a) True (b) False
25. 25.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
26. 26.Meera’s stall took in ₹70 on Friday, ₹200 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
27. 27.Saanvi’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: buying lemons? (a) income (b) expense
29. 29.Vihaan’s stall took in ₹360 on Friday, ₹320 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
30. 30.Saanvi’s income was ₹170 and the profit was ₹20. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
31. 31.Zoya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
32. 32.True or false: “printing posters” is income (money in). (a) False (b) True
33. 33.Tara’s stall took in ₹360 on Friday, ₹360 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) payment for a cake order
35. 35.Rohan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
36. 36.Dev’s stall took in ₹180 on Friday, ₹130 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
37. 37.Riya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
38. 38.Kavya’s income was ₹100 and the profit was ₹40. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
39. 39.Zoya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
40. 40.Aarav’s stall took in ₹380 on Friday, ₹200 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?

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