Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 813 · 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.Gurpreet’s record for the day:
   Income: ₹390 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹160 (transport)
   Expense: ₹190 (card paper)
   What is the profit (in ₹)?
2. 2.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
3. 3.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
4. 4.📒 Income or expense: tutoring fees received? (a) expense (b) income
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
6. 6.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
7. 7.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) printing posters (d) buying lemons
8. 8.📒 Income or expense: buying lemons? (a) expense (b) income
9. 9.True or false: “a card order paid” is income (money in). (a) False (b) True
10. 10.Tara’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: paying the stall fee? (a) expense (b) income
12. 12.Farhan’s income was ₹140 and the profit was ₹90. One expense was ₹40 (paper cups). How much was the other expense, for sugar (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) income (b) expense
14. 14.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
15. 15.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) paying the stall fee (d) money from sales
16. 16.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
17. 17.Kavya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
18. 18.Aarav’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
19. 19.True or false: “buying lemons” is income (money in). (a) False (b) True
20. 20.True or false: “bus fare to the market” is income (money in). (a) False (b) True
21. 21.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
22. 22.Rohan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹210 (posters)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying lemons (d) tutoring fees received
24. 24.Farhan’s stall took in ₹290 on Friday, ₹340 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
25. 25.Kavya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
26. 26.Vihaan’s stall took in ₹80 on Friday, ₹250 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying lemons (d) printing posters
28. 28.Arjun’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹240 (lemons)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) money from sales
30. 30.Dev’s income was ₹350 and the profit was ₹270. One expense was ₹60 (lemons). How much was the other expense, for paper cups (in ₹)?
31. 31.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
32. 32.Lakshmi’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹200 (paper cups)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: a card order paid? (a) expense (b) income
34. 34.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
35. 35.Diya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) True (b) False
37. 37.Ananya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹200 (stall fee)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: printing posters? (a) income (b) expense
39. 39.True or false: “paying the stall fee” is income (money in). (a) False (b) True
40. 40.📒 Income or expense: payment for a cake order? (a) income (b) expense

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