Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 8 · 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.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
2. 2.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) a card order paid (d) buying lemons
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.Rohan’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹50 (posters)
   Expense: ₹50 (stall fee)
   How much is the loss (in ₹)?
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
6. 6.Meera’s stall took in ₹100 on Friday, ₹250 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) bus fare to the market (d) cash from selling plants
8. 8.Aarav’s stall took in ₹230 on Friday, ₹230 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
10. 10.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying lemons (d) a card order paid
11. 11.Saanvi’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
12. 12.Joseph’s income was ₹300 and the profit was ₹280. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
13. 13.Kabir’s income was ₹390 and the profit was ₹330. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) money from sales (d) buying lemons
15. 15.📒 Income or expense: money from sales? (a) expense (b) income
16. 16.Gurpreet’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
17. 17.True or false: “bus fare to the market” is income (money in). (a) True (b) False
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
19. 19.Dev’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹100 (posters)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
20. 20.Meera’s income was ₹340 and the profit was ₹160. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
21. 21.Zoya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹280 (paper cups)
    How much is the loss (in ₹)?
22. 22.Nisha’s income was ₹460 and the profit was ₹250. One expense was ₹200 (posters). How much was the other expense, for transport (in ₹)?
23. 23.📒 Income or expense: cash from selling plants? (a) income (b) expense
24. 24.📒 Income or expense: tutoring fees received? (a) income (b) expense
25. 25.📒 Income or expense: a card order paid? (a) income (b) expense
26. 26.📒 Income or expense: bus fare to the market? (a) income (b) expense
27. 27.Arjun’s income was ₹240 and the profit was ₹170. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
28. 28.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying lemons (d) buying paper cups
29. 29.Arjun’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (transport)
    Expense: ₹100 (stall fee)
    How much is the loss (in ₹)?
30. 30.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
31. 31.Dev’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
32. 32.True or false: “payment for a cake order” is income (money in). (a) True (b) False
33. 33.Nisha’s stall took in ₹150 on Friday, ₹380 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) paying the stall fee
35. 35.Lakshmi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
36. 36.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
37. 37.True or false: “a card order paid” is an expense (money out). (a) False (b) True
38. 38.Lakshmi’s stall took in ₹330 on Friday, ₹230 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) bus fare to the market
40. 40.Ananya’s stall took in ₹80 on Friday, ₹80 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?

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