Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 797 · 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.📒 Income or expense: tutoring fees received? (a) expense (b) income
2. 2.True or false: “payment for a cake order” is income (money in). (a) False (b) True
3. 3.Diya’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹60 (card paper)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
4. 4.Lakshmi’s stall took in ₹210 on Friday, ₹320 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
6. 6.Joseph’s income was ₹320 and the profit was ₹280. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
7. 7.Tara’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹180 (ribbon)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: buying lemons? (a) expense (b) income
9. 9.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
10. 10.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
11. 11.Kavya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
12. 12.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) tutoring fees received (d) money from sales
13. 13.Gurpreet’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
14. 14.Aarav’s income was ₹280 and the profit was ₹230. One expense was ₹10 (transport). How much was the other expense, for sugar (in ₹)?
15. 15.Riya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
16. 16.Aarav’s stall took in ₹400 on Friday, ₹70 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “bus fare to the market” is income (money in). (a) True (b) False
18. 18.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
19. 19.Vihaan’s income was ₹320 and the profit was ₹60. One expense was ₹20 (sugar). How much was the other expense, for lemons (in ₹)?
20. 20.Tara’s stall took in ₹270 on Friday, ₹200 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
21. 21.Zoya’s income was ₹300 and the profit was ₹160. One expense was ₹80 (card paper). How much was the other expense, for sugar (in ₹)?
22. 22.Dev’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹200 (sugar)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
23. 23.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) cash from selling plants (d) paying the stall fee
24. 24.Tara’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹220 (stall fee)
    How much is the loss (in ₹)?
25. 25.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
26. 26.True or false: “a card order paid” is an expense (money out). (a) False (b) True
27. 27.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) payment for a cake order
28. 28.Lakshmi’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
29. 29.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) buying paper cups (d) money from sales
30. 30.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) a card order paid (d) payment for a cake order
31. 31.Dev’s income was ₹340 and the profit was ₹180. One expense was ₹120 (posters). How much was the other expense, for ribbon (in ₹)?
32. 32.True or false: “buying paper cups” is income (money in). (a) False (b) True
33. 33.Gurpreet’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
34. 34.Arjun’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
35. 35.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
36. 36.True or false: “cash from selling plants” is income (money in). (a) False (b) True
37. 37.Rohan’s stall took in ₹270 on Friday, ₹350 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: a card order paid? (a) expense (b) income
39. 39.Joseph’s income was ₹440 and the profit was ₹290. One expense was ₹140 (stall fee). How much was the other expense, for paper cups (in ₹)?
40. 40.Meera’s stall took in ₹300 on Friday, ₹390 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?

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