Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 786 · 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: “paying the stall fee” is income (money in). (a) False (b) True
2. 2.Aarav’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹50 (card paper)
   Expense: ₹130 (transport)
   How much is the loss (in ₹)?
3. 3.Kabir’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹50 (ribbon)
   Expense: ₹130 (lemons)
   What is the profit (in ₹)?
4. 4.Kabir’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹80 (stall fee)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
5. 5.Farhan’s stall took in ₹370 on Friday, ₹300 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) printing posters
7. 7.True or false: “tutoring fees received” is income (money in). (a) True (b) False
8. 8.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
9. 9.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) bus fare to the market (d) tutoring fees received
10. 10.📒 Income or expense: buying lemons? (a) income (b) expense
11. 11.Ishaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
12. 12.True or false: “payment for a cake order” is income (money in). (a) True (b) False
13. 13.Riya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
14. 14.Zoya’s income was ₹450 and the profit was ₹50. One expense was ₹100 (ribbon). How much was the other expense, for posters (in ₹)?
15. 15.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
16. 16.True or false: “printing posters” is income (money in). (a) True (b) False
17. 17.Meera’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
18. 18.Vihaan’s stall took in ₹140 on Friday, ₹150 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) buying lemons (d) paying the stall fee
20. 20.Aarav’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
21. 21.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) payment for a cake order (d) money from sales
22. 22.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
23. 23.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
24. 24.Gurpreet’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹170 (card paper)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
25. 25.True or false: “cash from selling plants” is income (money in). (a) True (b) False
26. 26.📒 Income or expense: paying the stall fee? (a) expense (b) income
27. 27.Diya’s income was ₹350 and the profit was ₹310. One expense was ₹30 (ribbon). How much was the other expense, for lemons (in ₹)?
28. 28.📒 Income or expense: cash from selling plants? (a) expense (b) income
29. 29.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
30. 30.Dev’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
31. 31.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying lemons (d) buying paper cups
32. 32.Nisha’s stall took in ₹90 on Friday, ₹190 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
34. 34.Zoya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹280 (transport)
    How much is the loss (in ₹)?
35. 35.Ishaan’s income was ₹410 and the profit was ₹220. One expense was ₹140 (stall fee). How much was the other expense, for ribbon (in ₹)?
36. 36.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
37. 37.📒 Income or expense: bus fare to the market? (a) income (b) expense
38. 38.Gurpreet’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
39. 39.Riya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹260 (card paper)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
40. 40.Vihaan’s stall took in ₹190 on Friday, ₹160 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?

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