Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 791 · 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.Saanvi’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹140 (sugar)
   Expense: ₹10 (stall fee)
   How much is the loss (in ₹)?
2. 2.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) a card order paid
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
5. 5.Lakshmi’s income was ₹320 and the profit was ₹280. One expense was ₹30 (ribbon). How much was the other expense, for sugar (in ₹)?
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) money from sales
7. 7.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
8. 8.📒 Income or expense: bus fare to the market? (a) expense (b) income
9. 9.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
10. 10.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
11. 11.📒 Income or expense: paying the stall fee? (a) expense (b) income
12. 12.Diya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹40 (transport)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
13. 13.Tara’s income was ₹220 and the profit was ₹160. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
14. 14.Joseph’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
15. 15.📒 Income or expense: a card order paid? (a) income (b) expense
16. 16.Aarav’s stall took in ₹310 on Friday, ₹340 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
18. 18.Farhan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
19. 19.Nisha’s income was ₹370 and the profit was ₹80. One expense was ₹270 (lemons). How much was the other expense, for transport (in ₹)?
20. 20.Joseph’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹110 (transport)
    Expense: ₹250 (lemons)
    How much is the loss (in ₹)?
21. 21.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) tutoring fees received
22. 22.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) bus fare to the market
23. 23.📒 Income or expense: tutoring fees received? (a) income (b) expense
24. 24.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
25. 25.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
26. 26.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying lemons (d) tutoring fees received
28. 28.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: buying lemons? (a) expense (b) income
30. 30.True or false: “tutoring fees received” is income (money in). (a) False (b) True
31. 31.Dev’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
32. 32.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Vihaan’s stall took in ₹130 on Friday, ₹60 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
35. 35.Kabir’s stall took in ₹180 on Friday, ₹160 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
36. 36.Diya’s income was ₹270 and the profit was ₹10. One expense was ₹240 (stall fee). How much was the other expense, for posters (in ₹)?
37. 37.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) cash from selling plants
39. 39.Ishaan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: buying paper cups? (a) income (b) expense

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