Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 800 · 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.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
2. 2.Ananya’s stall took in ₹220 on Friday, ₹200 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
3. 3.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
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.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) buying lemons (d) bus fare to the market
7. 7.📒 Income or expense: money from sales? (a) income (b) expense
8. 8.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.True or false: “bus fare to the market” is income (money in). (a) False (b) True
11. 11.📒 Income or expense: buying lemons? (a) income (b) expense
12. 12.📒 Income or expense: paying the stall fee? (a) income (b) expense
13. 13.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) printing posters (d) payment for a cake order
14. 14.📒 Income or expense: payment for a cake order? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) money from sales
16. 16.📒 Income or expense: cash from selling plants? (a) expense (b) income
17. 17.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
18. 18.Zoya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
19. 19.Gurpreet’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹110 (transport)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
20. 20.Kabir’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
21. 21.Nisha’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
22. 22.True or false: “a card order paid” is income (money in). (a) True (b) False
23. 23.Riya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
24. 24.Rohan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) bus fare to the market (d) a card order paid
26. 26.Lakshmi’s income was ₹420 and the profit was ₹20. One expense was ₹70 (transport). How much was the other expense, for posters (in ₹)?
27. 27.True or false: “buying lemons” is income (money in). (a) False (b) True
28. 28.Kabir’s income was ₹480 and the profit was ₹40. One expense was ₹200 (card paper). How much was the other expense, for ribbon (in ₹)?
29. 29.Kabir’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
30. 30.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹180 (card paper)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
31. 31.Gurpreet’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
32. 32.Kavya’s income was ₹370 and the profit was ₹240. One expense was ₹110 (stall fee). How much was the other expense, for card paper (in ₹)?
33. 33.Vihaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
34. 34.Nisha’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
35. 35.Diya’s income was ₹330 and the profit was ₹90. One expense was ₹100 (stall fee). How much was the other expense, for sugar (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
37. 37.Lakshmi’s stall took in ₹360 on Friday, ₹210 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: a card order paid? (a) income (b) expense
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
40. 40.Kabir’s income was ₹490 and the profit was ₹20. One expense was ₹210 (posters). How much was the other expense, for stall fee (in ₹)?

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