Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 826 · 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.True or false: “buying paper cups” is income (money in). (a) False (b) True
2. 2.Zoya’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹130 (sugar)
   Expense: ₹100 (transport)
   How much is the loss (in ₹)?
3. 3.Gurpreet’s stall took in ₹320 on Friday, ₹240 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying paper cups (d) money from sales
6. 6.📒 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
7. 7.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
8. 8.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) tutoring fees received (d) money from sales
9. 9.Diya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹40 (paper cups)
   Expense: ₹150 (posters)
   How much is the loss (in ₹)?
10. 10.Saanvi’s stall took in ₹150 on Friday, ₹400 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
12. 12.Ishaan’s income was ₹210 and the profit was ₹10. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
13. 13.Lakshmi’s stall took in ₹210 on Friday, ₹100 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
14. 14.Saanvi’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: cash from selling plants? (a) expense (b) income
16. 16.Kabir’s stall took in ₹340 on Friday, ₹60 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
17. 17.Lakshmi’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) paying the stall fee
19. 19.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
20. 20.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
21. 21.Arjun’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
22. 22.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
23. 23.Ananya’s stall took in ₹180 on Friday, ₹230 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
24. 24.Nisha’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹270 (ribbon)
    How much is the loss (in ₹)?
25. 25.Dev’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
26. 26.Tara’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
27. 27.Meera’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) paying the stall fee (d) printing posters
29. 29.📒 Income or expense: paying the stall fee? (a) expense (b) income
30. 30.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
31. 31.Farhan’s stall took in ₹390 on Friday, ₹220 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: bus fare to the market? (a) income (b) expense
33. 33.Saanvi’s stall took in ₹370 on Friday, ₹160 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
34. 34.Vihaan’s income was ₹340 and the profit was ₹320. One expense was ₹10 (posters). How much was the other expense, for transport (in ₹)?
35. 35.Joseph’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹50 (transport)
    Expense: ₹270 (lemons)
    How much is the loss (in ₹)?
36. 36.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) money from sales (d) cash from selling plants
37. 37.True or false: “money from sales” is an expense (money out). (a) True (b) False
38. 38.Ananya’s income was ₹270 and the profit was ₹70. One expense was ₹40 (stall fee). How much was the other expense, for transport (in ₹)?
39. 39.Gurpreet’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
40. 40.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False

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