Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 828 · 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 an expense (money out). (a) True (b) False
2. 2.Ananya’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹160 (stall fee)
   Expense: ₹150 (lemons)
   How much is the loss (in ₹)?
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying paper cups (d) tutoring fees received
4. 4.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
5. 5.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
6. 6.Rohan’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹150 (lemons)
   Expense: ₹30 (card paper)
   How much is the loss (in ₹)?
7. 7.Rohan’s stall took in ₹90 on Friday, ₹130 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) paying the stall fee (d) buying paper cups
9. 9.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
10. 10.📒 Income or expense: payment for a cake order? (a) income (b) expense
11. 11.Dev’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹170 (stall fee)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
12. 12.Vihaan’s stall took in ₹310 on Friday, ₹250 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
14. 14.Farhan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
15. 15.📒 Income or expense: cash from selling plants? (a) expense (b) income
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) printing posters (d) tutoring fees received
17. 17.📒 Income or expense: paying the stall fee? (a) expense (b) income
18. 18.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
19. 19.Riya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹100 (posters)
    Expense: ₹130 (paper cups)
    How much is the loss (in ₹)?
20. 20.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) tutoring fees received (d) payment for a cake order
21. 21.Gurpreet’s stall took in ₹220 on Friday, ₹260 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
22. 22.Diya’s stall took in ₹110 on Friday, ₹180 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
23. 23.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹10 (posters)
    Expense: ₹310 (stall fee)
    How much is the loss (in ₹)?
24. 24.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) payment for a cake order
25. 25.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
26. 26.📒 Income or expense: buying lemons? (a) income (b) expense
27. 27.Vihaan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) payment for a cake order (d) cash from selling plants
29. 29.True or false: “bus fare to the market” is income (money in). (a) True (b) False
30. 30.True or false: “printing posters” is income (money in). (a) True (b) False
31. 31.Saanvi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
32. 32.True or false: “cash from selling plants” is income (money in). (a) True (b) False
33. 33.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: bus fare to the market? (a) income (b) expense
35. 35.Kavya’s income was ₹500 and the profit was ₹80. One expense was ₹20 (paper cups). How much was the other expense, for lemons (in ₹)?
36. 36.📒 Income or expense: tutoring fees received? (a) income (b) expense
37. 37.Nisha’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
38. 38.Meera’s stall took in ₹180 on Friday, ₹260 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
39. 39.Dev’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
40. 40.Farhan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?

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