Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 788 · 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.Ananya’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹20 (transport)
   Expense: ₹50 (stall fee)
   How much is the loss (in ₹)?
2. 2.True or false: “tutoring fees received” is income (money in). (a) False (b) True
3. 3.Joseph’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹100 (ribbon)
   Expense: ₹70 (paper cups)
   What is the profit (in ₹)?
4. 4.Dev’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹110 (paper cups)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
6. 6.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) bus fare to the market
7. 7.Farhan’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹180 (ribbon)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: buying lemons? (a) expense (b) income
9. 9.True or false: “cash from selling plants” is income (money in). (a) True (b) False
10. 10.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) bus fare to the market (d) buying paper cups
11. 11.Dev’s stall took in ₹330 on Friday, ₹180 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
12. 12.Rohan’s stall took in ₹380 on Friday, ₹370 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “buying paper cups” is income (money in). (a) True (b) False
14. 14.Aarav’s income was ₹200 and the profit was ₹70. One expense was ₹120 (transport). How much was the other expense, for stall fee (in ₹)?
15. 15.📒 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
16. 16.True or false: “buying lemons” is income (money in). (a) False (b) True
17. 17.📒 Income or expense: printing posters? (a) income (b) expense
18. 18.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) paying the stall fee (d) printing posters
19. 19.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹350 (card paper)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
20. 20.True or false: “printing posters” is an expense (money out). (a) True (b) False
21. 21.Zoya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: a card order paid? (a) expense (b) income
23. 23.Lakshmi’s stall took in ₹280 on Friday, ₹50 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
24. 24.Lakshmi’s income was ₹390 and the profit was ₹170. One expense was ₹190 (lemons). How much was the other expense, for transport (in ₹)?
25. 25.Gurpreet’s stall took in ₹60 on Friday, ₹250 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) cash from selling plants (d) tutoring fees received
27. 27.Tara’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹370 (paper cups)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
28. 28.Joseph’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: paying the stall fee? (a) expense (b) income
30. 30.Nisha’s income was ₹470 and the profit was ₹170. One expense was ₹80 (stall fee). How much was the other expense, for card paper (in ₹)?
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) tutoring fees received (d) money from sales
32. 32.📒 Income or expense: money from sales? (a) income (b) expense
33. 33.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) buying lemons
34. 34.📒 Income or expense: cash from selling plants? (a) income (b) expense
35. 35.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
36. 36.True or false: “paying the stall fee” is income (money in). (a) False (b) True
37. 37.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) payment for a cake order
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
39. 39.Riya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
40. 40.Riya’s stall took in ₹90 on Friday, ₹120 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?

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